Death Star Economics



Winning a battle, losing a president

German president Christian Wulff resigned this morning. He was pressured from his own party and the public after being involved in scandals involving a €500,000 loan last year, when several stories around Wulff’s personal finances and ties with businessmen became public. Wulff’s predecessor Horst Koehler, also resigned prematurely after being criticized for comments about the war in Afghanistan and the role of the German military to uphold the country’s interests (in other countries you get elected for that…). read article

It’s back and forth with the Greece deal, or stagnant, or just back – I can’t tell anymore. The next meeting of the Eurogroup is scheduled for Monday, but if the recent weeks have taught us anything, dates and deadlines aren’t set in stone.
Many have said we should look towards South America to find a feasible solution for Greece. Now the former central bank governors of Argentina and Mexico speak up in the Economist, arguing that a Greek exit from the euro is untenableread article

Ezra Klein (of the Washington Post) is upset. He is upset about the amount of people going into finance after graduating from prestigious universities. In numbers provided by the NYTimes, almost 36% from Princeton, 17% from Yale and 14% from Harvard graduates floated (pun!) into Wall Street last year like so many have done before. Apparently, Tufts University pays the tuition for those who go into public service instead… Klein thinks that a reason for that might be post-graduation confusion that is shamelessly exploited by the gingerbread house that is Wall Street. But Ezra, if banks provide the ‘hands-on’ education that universities are lacking, doesn’t that create room for students to spend their time on other subjects like languages and philosophy? ‘The arts’? Seems pretty complimentary to me. Either way, the whole scenario is surely not US-specific. Over here in London, they call it the LSE problem… read article

Joris Luyendijk‘s banking blog deals with the sense of national belonging and why bankers don’t care about it. read article

Have a good weekend!


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One Response

  1. […] president, i.e. not denounce the war in Afghanistan (Koehler) or borrow money from dodgy friends (Wulff). Two is a trends, three is a collection: who wants to make a bet on how long this one will […]

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