Word: economisters
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...skepticism over France and Germany's failure to abide by the rules." The absence of Sweden's 9 million people will hardly be noticed by the 300 million who currently use the euro. "It's now clear that the euro is not for everyone," says Holger Schmieding, Europe economist at Bank of America in London. And what's wrong with that? If Swedes see interest rates rise and investment and competitiveness fall as a result of staying out, then they can have another referendum and join later - or stay out and pay the price. Either way, the euro goes...
...funnel investment into big European infrastructure projects, like linking France's high-speed train system with Germany's; spending more money on the E.U.'s Galileo global positioning system; and investing in cleaner automobiles. "I don't think governments are very good at picking winners," says Dirk Schumacher, German economist at Goldman Sachs in Frankfurt. "We do need infrastructure, but they shouldn't use this as an opportunity to steer the business cycle. In the past it hasn't worked, and I don't see why it should now." Further complications will arise next week, as representatives from...
KENNETH ROGOFF, the International Monetary Fund's chief economist, on the euro zone's role in the global economic recovery
...tailed him ever since it was leaked to the Economist...
After the memo was leaked to the Economist, Lutzenberger wrote Summers, “Your reasoning is perfectly logical but totally insane...Your thoughts [provide] a concrete example of the unbelievable alienation, reductionist thinking, social ruthlessness and the arrogant ignorance of many conventional ‘economists’ concerning the nature of the world we live...