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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

Political power balances to infinity and beyond

There won’t be a news brief tomorrow, Wednesday, 18 April 2012.

Jim Yong Kim will become the new president of the World Bank. While commentators are annoyed with the US-European power balance in the bank and the fund (the IMF, that is), the other contenders, Nigerian finance minister Ngozi Okonjo-Iweala and Colombian finance minister Jose Antonio Ocampo seem to be pretty happy with how far they got. It clearly is not about winning… read article

Hungary‘s prime minister 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 support from the troika in Decemberread article

UK inflation rose in March on the back of increasing clothing and food prices and the fear of drought that I already ridiculed yesterday (hands up who got rained on this morning). Back to £1 cucumbers it is. read article

Re: yesterday‘s ECB banter:

The [German] empire struck back, saying this:

It is the core belief of the federal government… that the role and office of the ECB be independent of encouragement and assistance from politics. And that’s well known in Paris.

Boom.

Last night before leaving my office, I did a quick news search on Angela Merkel and stumbled upon this: an online auction for her first West German car. Bizarre. read article

Also, here’s why Amartya Sen is disappointed in all of usread article

And finally, an obscure family tale around corruption, murder and a red Ferrari:  a case study of what to avoid when you study abroad while your parents are Chinese government officials. read article

So long.

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