Daily Digest

Daily Digest 4/29 - Suicides Set Greece On Edge, S. Europeans Flock To German Jobs, Spanish Unemployment Hits Record

Sunday, April 29, 2012, 9:49 AM
  • Suicides Have Greeks On Edge Before Election
  • On High-Speed Rails, a New Challenger in Italy
  • Brain Drain Feared as German Jobs Lure Southern Europeans
  • Tensions Are Growing Between Egypt and Saudi Arabia
  • Does Quantitative Easing Benefit the 99% or the 1%?
  • Spanish unemployment hits record 5.64 million

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Economy

Suicides Have Greeks On Edge Before Election (adam)

"Greek people don't want to be a burden to anyone and there's this growing sense of helplessness. Some develop an attitude of self-hatred and that leads to self-destruction. That's what's behind the increase in suicide and attempted suicide. We're seeing a whole new category: political suicides."

Police said the geology lecturer, Nikos Polyvos, who hanged himself, was distraught because a teaching job offer had been blocked due to a blanket hiring freeze in the public sector.

On High-Speed Rails, a New Challenger in Italy (jdargis)

By the end of the year, the company plans to have 25 trains connecting nine Italian cities, and its goal is a 20-to-25 percent market share by 2014, with eight million to nine million passengers a year, which would allow the company to break even.

Brain Drain Feared as German Jobs Lure Southern Europeans (jdargis)

That is changing under the pressures of the euro crisis and a harsh recession, and employers, governments and the migrants themselves are discovering that immigration, even when legal and nominally accepted, can raise tensions in ways that Europe’s founders may never have anticipated. Who wins and who loses — if anyone — is a matter of growing debate. But there is widespread agreement that Europe is rapidly entering a new era whose ramifications are only beginning to be understood.

Tensions Are Growing Between Egypt and Saudi Arabia (jdargis)

Egypt has a massive amount of debt. They're currently sitting on a $11 billion budget deficit, and they're trying to negotiate a $3.2 billion loan from the International Monetary Fund. Egypt has been looking to other Arab League countries for financial "assurances" to satisfy the doubts of the IMF. Egyptian financial officials originally rejected the loan last summer because they thought Saudi Arabia was going to give them a $3.75 billion loan. $500 million came, but there hasn't been anything since.

Does Quantitative Easing Benefit the 99% or the 1%? (jdargis)

But let’s forget ivory the tower theories of either neo-Keynesians like Krugman or Austrians … and look at the evidence.

Spanish unemployment hits record 5.64 million (jdargis)

"The figures are terrible for everyone and terrible for the government... Spain is in a crisis of huge proportions," Foreign Minister Jose Manuel Garcia-Margallo said.

The new government has announced reforms to the labour market, including cutting back on severance pay and restricting inflation-linked salary increases, that it hopes will ease the problem.

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3 Comments

horstfam's picture
horstfam
Status: Bronze Member (Offline)
Joined: Sep 6 2008
Posts: 71
Your "Comedian-in-Chief"

Such a nice, likable guy.

 

ao's picture
ao
Status: Diamond Member (Offline)
Joined: Feb 4 2009
Posts: 2220
horstfam wrote: Such a nice,
horstfam wrote:

Such a nice, likable guy.

 

I thought the comment at 16:18 about our "free press" was hysterical.  But speaking of funny, this is about as "funny" as it comes.

 

But actually, I think his ongoing administration is much more of a joke than anything presented at the WHC dinner.

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