I have been enjoying myself in the Austrian Alpes last week and hence the lower output. Here is my look though, of a number of notable news stories and contributions.
Benoît Cœuré, Member of the Executive Board of the ECB has penned a speech (and argument) on global (excess) liquidity. Izabella likes it and I agree with her that it is a good piece. I am not sure though that it is that much different than the Savings Glut argument put forward by Bernanke, but I may be missing the fine print (i.
The Austrian province that enjoyed a big payout from the part sale of Hypo Group Alpe Aldria during the reign of hard-right leader Joerg Haider now refuses to put more cash into the ailing bank. Read Post
From Ananova: Cash strapped Alpine farmers are raking in a fortune harvesting snow and selling it to desperate ski slopes. Despite a freezing winter, snowfall levels at lower altitudes are down and Austrian resorts have had to buy i... Read Post