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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

Why continental policy doesn’t work. Again.

Mario Draghi of the ECB doesn’t want to cap the cheap money flowing through Europe’s veins. This comes much to thedislike of Germany’s central bank, which has been traditionally scared of inflation for more or less a century now. Germany’s growth forecast for 2012 is at a whopping 0.6%, while more or less everyone else will re-enter/stay in a recession. Once again, simple policy-making is saving the dayNotSpanish government bonds are going through the roof again, because Draghi didn’t seem to have paid enough attention to the severity of the country’s issues. (Mariano Rajoy, Spain’s prime minister, had made some worrisome statements shortly before Draghi’s press conference.) read article

All the new financial regulation doesn’t really seem to have done what it’s meant to do: the EBA (European Banking Authority) said that more than half of Europe’s biggest banks need to raise some serious money to comply with the core capital requirements demanded by Basel III. Right now, about €242bn are missing. Basel III is raising the obligatory tier-1 capital to 7% of banks’ assets. read artilce

Greece is bracing itself to be under-represented at the London Olympics due to budget cuts. The country that invented the whole charade will only be able to send 75 athletes to London in July, only a sixth of the 2004 participants (but to be fair, that was IN Greece), and less than half of the Beijing contestants. read article

Thankfully, Antonis Samaras, next Greek PM, has figured out a solution. In a campaigning, sorry, opinion piece in theWall Street Journal, which starts much like an epic history lesson, he explains why Greece is not a lost causeread article

Finally, you’ve possibly come across it already, Google is turning the present into the future with augmented reality glasses. Say what you want, it sure is more efficient than waiting for your mobile internet to load because you’re in far-away-land with poor 3G coverage… read article

More from the future: humanoid robots. (If I value one skill in robots, it’s climbing ladders…)

Happy Easter!

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