Death Star Economics



Tuesday, #22

Yesterday evening, the Spanish government (or rather its bank restructuring fund FROB) took over Banco de Valencia with a €1bn capital injection and a €2bn credit line. The bank had been hit by the Spanish real estate crisis, when the bubble burst in 2007 and had been tumbling ever since.

Further north, it’s time for another Mario… Belgium, whose government collapsed in April 2010, has just lost its chief budget negotiator Elio Di Rupo. The budget talks among six parties had been much more ambitious than those in the US, which the super-committee admitted to have failed at yesterday: the Belgians wanted to find a total of €11.3bn by 2012 to meet its deficit targetread article

Meanwhile, a Bank of England survey says that perceived market risk has hit 2008 levels… because we didn’t have any other problems yet… read article

Businessweek on Germany, central banks, the war, the other war and John Maynard Keynes. read article

Data about data, The Economist’s Daily Chart does numberswatch video

But more importantly, xkcd does numbers… in loving memory of the billion-dollar-o-gram by Information is Beautiful. read comic

So long.


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