This is what my brother reportedly said right after I left the airplane on the paragliding course. The UK referendum was a similar surprise. It could have been expected, nevertheless I did not expect it. Supposedly, you cannot even slow down when riding the integration bicycle.
A robot called Baxter truly exists. It takes him one hour to learn simple repetitive movements and then it is able to repeat them with objects which weight no more than 10 kilograms. Baxter costs 22 thousand US dollars. It is less than work costs of one employee with average salary in Slovakia for two years.
Iceland does not have much chance to go wrong. The current system is sufficiently large a disaster to require trying something else. They experienced capital controls, hyperinflation and there are financial crisis on average every 15 years. The currency suffers from chronic degradation. It would be nice to take a chance on an experiment in a country where the changes of a poorly performing financial system cannot be impeded by too powerful bankers and politicians.
With Germany at long last imposing a nation-wide wage floor, the country’s slowly conforming to the rest of Europe. Come the crisis and the erstwhile ‘Sick Man of Europe’ became the continent’s economic valedictorian. Extremely low (for European standards) unemployment rate cemented the make-believe caprice that it would work.
Perceiving deflation through the prism of an unmitigated disaster is today as unassailable as motherhood. Over the course of the past week, three different media outlets asked three INESS analysts to give their take on the “perils” of falling prices for the European economy.
Unlimited purchases of ECB bonds? New dollars from FED? Maybe… Greece wants more time. Time is money. A bit of tension was brought into the holiday boredom
Jánošík wasn’t Polish, he was Spanish! Two registered transactions at the commercial real estate markets in Italy in the second quarter. Did Angela soften after holidays? How Danica invests. Do you have peas in the freezer? And euros? When the children don’t want to leave home… New hero in Spain is emerging. Spanish Jánošík. Juan Manuel Sanchez Gordillo, mayor of Marinaleda – a town in southern Andalusia, is stealing in the supermarkets together with trade unions….
Bouncer Ottmar Issing. ECB once again kept Greece in the game. Will the next five-year plan be merrier? Briefly today. Pandas are on holidays and without Angela Merkel who is having a rest and German Minister of Finance, Wolfgang Schauble, not much is going on in Europe. Mario Monti, Italian Prime Minister, informed Germans that he needs their help, not financial, but moral one. Spanish Prime Minister Mariano Rajoy considers asking Europe for help. Not…
Central banks still don’t provide monetary opium, how long will the current illusions last without it? New taxes and economic growth. Milton Friedman would be 100 years old. Crisis is 5 years old. Last week we challenged the governor of the ECB Mario Draghi, who promised the moon to the markets, to stop talking and to show the money instead (Show Me the Money!). This week it turned out that there is no money to cover…
When is going to happen the next Slovak cabinet billion-worth meeting? Is Draghi tough because Angela is on hliday? Will be two Greek bankrupts within six months a new European or Olympic record? What a week! When it come to euro crisis, there is no silly time for sure. For example, how many Slovak cabinet meetings, during which our representatives approved 1 billion EUR for a Spanish black hole, have there been before? For example, the whole fiscal…