In English there is the beautiful expression of the “elephant in the room”, which is very big, but seemingly not discovered by anyone. People talk about all kinds of things that are in the room, only the elephant does not appear. Even if in a china store with an elephant – to use a German elephant image – the cups just tumble off the walls, people tend to believe in an earthquake rather than in the role of the elephant.
Economics
Bill Mitchell: European growth positive but weak
Key Eurozone states are still lagging behind where they were before the pandemic. In some cases (Italy and Spain), they hadn’t even got back to pre-GFC levels of activity before the pandemic stuck. Read here
Finance
The Markup: Secretive Algorithm Will Now Determine Uber Driver Pay in Many US Cities
The company has long used ride time and mileage to decide driver pay but is now turning to an opaque calculation called “Upfront Fares” Read Here
Corruption
The Return of Baron von Bung: 3 Time EU Commissioner Oettinger at it again
Günther Oettinger was as a three time EU commissioner notorious for his interventions for international corporations and German industrial interests. Now he is working as a lobbyist for the tobacco companies according to the EU […]
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