Death Star Economics



Liberté, égalité and working until the age of 40

In France, the retirement age for long term workers (41.5 years of pension contributions) and mothers of 3+ children was lowered from 62 to 60 yesterday, because working 35 hours a week is hard and pension funds are doing super well right now because of the good economic conditions. read article

Meanwhile, French unemployment rose to 10%, which is still less than the eurozone average of 11% [in April].

In Spain, or in Brussels rather, we’re still waiting to hear anything more explicit than edging towards a solution, which has, however, not been agreed on yet, because nobody really wants to deviate from their positions. Essentially, that means that Rajoy is still not ready to call it a bailout, because he’s afraid of stigmatizing Spain’s banksread article

Otherwise, David Cameron is meeting Angie Merkel in Berlin today to spread the egalitarian word. He, as so many others, wants her to put more money forward for a bigger European firewall, agree to eurobonds and finally put her foot down and cut the soft talk. We shall see how well that goes. Cameron doesn’t exactly have a track record for being diplomatic when it comes to talking to his continental counterparts about meaningful things, just as Merkel hasn’t been proactive on the compromise front recently. My guess: a statement on how much both nations agree that urgent action is required to strengthen the banking system and the economy and revive organic growth within the next years. I.e. things we’ve heard before. Please disregard. read article

Here’s some analysis to Merkel’s isolated position in Europe and the world and how she got herself there. read article

“There is a sense of concern [in Europe],” said Maria Draghi at the ECB’s press conference yesterday. Oh really? Here’s every chart on the ECB you’ve ever dreamed of.

Another chart, this time for Greek unemployment by age group. Do not open if you have a history of depression. view chart 

And finally, the number of the day: £752,785

That is the average house price in central London as of April 2012.

So long.


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One Response

  1. princess1960 says:

    first i have to say apologize for my last comment
    thank you for the information i read and for me is usefull
    comment about ez for me is unneccessery because ..In the time leader EZ doesn’t do NOTHING just bla bla sens we have to see less bla bla and much work effective to find solution ( MY PERSONAL )OPINION IS THERE DOESN’T KNOW TO FIND SOLUTION BECAUSE NOONE IS SPECIALIST (ECONOMIC-POLITIC)..OR LIKE TO KEEP THIS SITUATION WORS AND WORS. SO BOTH VERSIONS IS VERY BAD ..

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