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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

…and the EU keeps getting it wrong

EU fluff language has reached another peak today, with Michel Barnier saying financial regulation was a “work in progress,” representing “a balance between flexibility and harmonization […] to ensure that financial actors, be they banks or hedge funds or other financial institutions are appropriately regulated.” Thank god all players in financial services are the same so that we only have to have one big fat rule book for all of them. It’s nice when policy making is so comprehensive. Almost seems like we’ve missed something here… read article

Meanwhile, an 11 year-old Dutch boy is solving the eurozone problem [and gets recognized by the Wolfson Economics Prize]: read article

The German, sorry, European fiscal pact is entering the next round. Yesterday afternoon, German finance ministerWolfgang Schaeuble presented the plan, which would replace budget sovereignty with technocratic supervisors, preferably from Germany. Call it the German Union, Zerohedge calls it a dictatorshipread article

Clash of the titans: Reuters and Bloomberg now each employ more journalists than the New York Times and Washington Post combined, plus they actually have substantial revenue. That’s how the romance of print newspapers will actually die, killed by data providers tempting writers with better salaries. The Reformed Broker says “Bloomberg, Reuters are becoming the Coke and Pepsi of Journalism.” read article

Daily Factoid from MarketBeat: On April 3, 1948, Harry Truman signed the Marshall Plan designating $5bn in aid to 16 European countries. Five billion dollars. That’s like what Greece runs through in a day…

To put that number in contemporary context, UK companies spent £5bn only on online advertising in 2011. Times have changed. A bit. read article

So long.

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