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This week about Big Berta, Stiglitz’ duel with bad speculators, why Greece needs planning commissioners and about open hunting season for bad news messengers in the European Parliament. The second round of three-year tender loans of the European Central Bank (according to ECB President Mario Draghi so-called “Big Bertha”) flooded the system with 529.5 bln of future euro. 800 banks took 3-year loans with interest rates 1% (it was 523 bln. during the first round…

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About good news from Iceland, the next act of Greek drama, Spanish ghost city, Presidential poetry and tough love in Europe. We have good news for you. Iceland is not junk anymore. Iceland is a country whose credit rating, unlike in the rest of Europe, started to rise. Why is it important? Iceland has done what European insolvent countries and monetary union still resists doing. After the crisis, which mainstream economists and governors didn‘t see coming,…

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INESS, Bratislava 7.3.2012 We added to our The State Waste database the whole proceeded year 2011. Database now consists of 824 documented cases of waste, clientelism and lawsuits brought up by the printed media since the year 2007. The total sum of revealed inefficient use of public funds in the year 2011 in the categories Waste and Lawsuits reached EUR 553.5 mil. It is not only the waste during this period of time but also…

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Slovak think tank INESS, the Institute of Economic and Social Studies, calculated the total potential risk exposure related to Eurozone rescue mechanisms on per capita basis. It is published on the institute”s new project website eurokriza.sk (“eurocrisis”). The Euro Bill summarizes total liabilities, guarantees and risk exposure created by bond purchasing programs, which were created as a part of the Euro debt crisis solution efforts. The total maximal risk exposure of each Slovak citizen is…

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INESS released the Bill for Government Services for 2012. The annual price of the state for Slovakia increased by 2% and reached € 4,382 per citizen. The Bill has been distributed by Slovak major opinion making daily SME in January 2012 in printed form, reaching more than 70 000 readers. The goal of If you get caught driving practice test while your licence is suspended your vehicle may be impounded. the project is to explain…

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We can safely mark this week as Greek. No, it’s not about action week in McDonalds but the majority of  messages that stirred euro came right from that country. On Sunday Greek Parliament passed new austerity package (199 MPs for, 77 against), so-called  Memorandum of Understanding, based on which Greece will receive further bailout of 130 bln. euro (or more if we count also 15 bln. euro which has been discussed since the end of…