Death Star Economics



Number of the day: 900 million

Do you remember the time Europe and the IMF bought Iceland? All the way back in 2008? Well, some of the money,$909m ($2,840 per inhabitant), a fifth of the overall amount, is being paid back early. Thanks. Are you looking at this, Greece? read article

But Greece has made an effort. Recently, €964m in back taxes were collected, less than an eighth of taxes outstanding. In response, there was a pat on the back from the EU life-improvement task force, and the IMF‘s decisionto provide €28bn in funds over the next four years. read article

Lufthansa isn’t doing so well… The FT writes the flag-carrier is warning on 2012 profits, after having reported a €13m net loss in 2011. For reference: Air France KLM recorded a net loss of €809m last year. Mon Dieu! Godverdomme! Meanwhile, Lufthansa’s pricing teams continue trying to squeeze as much money as possible out of every flight. Fun fact: since 2004, the distance between seats in economy class decreased by 10cm, from 86.36cm to 76.20cm! But who flies economy anyway… read article

Nouriel Roubini, the man who hates the world, on oil and fearread article

And finally, career advice from an economist: don’t sleep with your colleagues and keep your hands off of drugs [until you get the job] if you want to ride the career horse into the sunset over the Square Mile. In other words, it’s anothercomment on Joris Luyendijk’s blog. Beware of racial stereotypes [or history grads called Rupert].

Have a good weekend.


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