Month: November 2010

The rise of politicians talking about ‘happiness’ and ‘general well-being’ is a new European fad with similar initiatives also undertaken by Nicolas Sarkozy in France and Angela Merkel in Germany. But you don’t have to be a cynic to detect their ulterior motives. ‘Happiness’ is either used as a political repositioning tool for politicians wishing to appear as caring, or it is used in countries that have given up hope on future economic growth and seek different measures to feign success.

Victoria’s Premier John Brumby has made an unusual pledge ahead of the state election. If re-elected, his government would commit $6.3 million to installing facilities to stream Victorian court proceedings on the Internet. The public would be able to follow a selection of court cases, most of them criminal, live on the web.

In their open confrontation with the Americans and other European countries, the Germans have good arguments on their side. Trade restrictions are certainly not the way out of the world economy’s problems; and to prevent moral hazard, bondholders need to bear the costs of defaults.

Worshipping their new goddess nature, the environmentalists have forgotten something. We human beings may not all be cute and cuddly, but we deserve at least as much love and attention as our distant relatives in the animal kingdom.

The next acute crisis of a Eurozone country may happen sooner than EU leaders think. It is only then when we will see what their new celebrated compromise is worth in practice.