Monday, June 4, 2012
Stories here and here. Of course the latter story, which reports a massive sell-off of euros by central banks, could have an upside: the fall of the euro should at some point begin to stimulate exports. And then there's George Soros:
Financial panics subside and the authorities realize a profit on their intervention. But not this time because the financial problems were reinforced by a process of political disintegration. While the European Union was being created, the leadership was in the forefront of further integration; but after the outbreak of the financial crisis the authorities became wedded to preserving the status quo. This has forced all those who consider the status quo unsustainable or intolerable into an anti-European posture. That is the political dynamic that makes the disintegration of the European Union just as self-reinforcing as its creation has been. That is the political bubble I was talking about.
A new survey ranks relatively young universities (under 50 years old). Too bad it didn't happen before the election. Sarkozy could have claimed credit for a French success story (if there is any more reason to believe this ranking scheme than the others):
Also highly ranked were the École Polytechnique Fédérale de Lausanne in Switzerland; the Hong Kong University of Science and Technology (HKUST); the Korea Advanced Institute of Science and Technology (KAIST); Université Pierre et Marie Curie in France; and the Irvine and Santa Cruz campuses of the University of California. Three British institutions — the University of York, Lancaster University and the University of East Anglia — rounded out the top 10.