Death Star Economics



A technocrat for Hungary, please

Details from Friday’s news:

The Spanish spending cuts announced in Friday’s budget amount to €27bn and the European bailout account will be increased by 40%, totalling €700bn.

The Hungarian president, Pal Schmitt, known to be a bit of a zero, just resigned. Last week he lost his doctorate degree as the result of a plagiarism investigation. Seems like he has the same communications staff as the German free democrats… Zerohedge wonders who will be the next ex-Goldman Sachs technocrat to take over a debt-ridden European nation.

The European unemployment figures show once again what we all already knew: it’s good to be German [or at least IN Germany] these days. While unemployment continues to go through the roof anywhere else, German unemployment is actually decreasing. Reuters put it in a colorful graph to make it seem less depressing.

Otherwise, there was a truck-load of PMI data this morning. The UK’s manufacturing sector continues to do better, leaving the Bank of England to hold back on more quantitative easing. The eurozone on the other hand is performing unsurprisingly poorly, off-setting the more positive data in January and February. Again, colors make it less depressing. read article

What do “uber-geeks, anarchists, libertarians, scammers and forex traders” have in common? The answer: bitcoins(which appears to be rebranded as ‘anti-bank money’).

Muppets? What muppets? Personally, I like the Swedish chef… Joris Luyendijk gives a short introductionread article

So long.

Filed under: news brief, , , , , , , , , , , , , ,

One Response

  1. […] Viktor Orban has nominated Janos Ader for the office of the president. Former president Pal Schmitt resigned on 2 April. Fun fact about Schmitt: he is a two-time Olympic fencing champion. Hungary requested financial […]

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: