Greece’s rift with Germany deepens –

English: Greece's recent debt history, between...

English: Greece’s recent debt history, between 1999 and 2010. (Photo credit: Wikipedia)

This must-read article is currently top of the FT’s most read list. Check it out!

via Greece’s rift with Germany deepens –

Sooner or later, I fear that the new government in Greece must realize that they have a weak negotiating hand. Surely, this is obvious?


Opinion – New idol group exists to pay off debts | The Japan Times – John Gelmini

English: Day 3 of the protest Occupy Wall Stre...

English: Day 3 of the protest Occupy Wall Street in Manhattan’s Zuccotti Park. (Photo credit: Wikipedia)


Interesting though this Blog from Dr Alf is, the problem with youth debt is that it is unnecessary.

It should not require well meaning pop stars or impresarios or anyone else to relieve youngsters of debt, which they should never have accumulated in the first place. Nor should the youngsters aspire to be pop stars to remove their debt. The politicians have their priorities backwards.

Bright young people who are being educated at university represent the intellectual seed capital and knowledge capital of a nation’s future. It should be heavily invested in and nurtured, without the need for students to incur debts.

For example, the money to pay for it in the UK needs to be found from things like EU budget contributions (£12 billion gbp a year), the Barnett Formula £35 billion gbp a year, wasted foreign aid, 12 billion gbp a year, most of which gets stolen by corrupt dictators and officials, and the continuing waste represented by too many councils, quangos, police constabularies, fire commands, BBC managers, NHS managers and overpaid Head Teachers who fail to do their job.

The Japanese and others have to look carefully at their priorities but there should be no student or young person’s debt for Japanese and other newspapers to write about.

John Gelmini