Riksbank to examine Sweden housing market

Riksbank (i.e. Sweden’s central bank) has decided to look at the developments in the housing market. They have set up a commission to inquire what is going on in Sweden’s housing and commercial properties market.

Terms of reference document says:

Readings/articles on Euroarea?Greece problems

There are some very good articles on woes of Euroarea/Greece by various economists:

• Paul Krugman (thinks the crux of the problem is pushing EMU beforetime)
• Otmar Issing (says Euro needs a political union and Greece should not be abiled out, see this as well)
• Barry Eichengreen (needs political union)
• Wolfgang Münchau (need a strong political will to curb debt levels)
• Jacques Delpla (Greece could cut debts/deficits by lowering its military expenditure and moving towards peace)
• Gillian Tett (how European leaders blame CDS markets for the speculation)
• Simon Johnson and Peter Boone (the focus may be on Greece but central lesson is how unsustainable debt dynamics can undermine us all)

Axel Weber for ECB presidency…

Despite Francesco Giavazzi’s wise words, the speculation over the next ECB president keeps getting hotter.

WSJ economics blog points to a Bloomberg survey which polls 27 econs on their prediction. 25 vote for Axel Weber, Bundesbank President.

WSJ has a nice profile of Weber as well:

When Bundesbank President Axel Weber recently took the stage of this city’s historic opera house in the collegial company of a conference of European bankers, he delivered a tongue-lashing.

“We don’t give a damn what anyone says” about regulation, he told the assembled bankers. “We will just implement it.” The banking sector’s risk management, he added, was “not up to scratch,” in part because bankers relied on ratings agencies that offered “zero” added value.

From left, Mario Draghi, Axel Weber and Jean-Claude Trichet pose for a photo at an ECB meeting in October.

The combative appearance and signals from the German government have fueled speculation that Mr. Weber, a member of the European Central Bank’s policy-making council, is mounting a not-so-subtle campaign for its presidency, considered among Europe’s most powerful posts. ECB President Jean-Claude Trichet’s eight-year term expires in October 2011.

Mr. Weber’s supporters say he’d add a strong voice to global policy-making circles. But in the staid world of central banking, Mr. Weber’s blunt manner—a contrast to Mr. Trichet’s diplomatic approach—also spurs questions about what his presidency would mean for the euro-zone.

Electing Mr. Weber, a renowned deficit and inflation “hawk” in the traditional Bundesbank mold, would send a clear signal that the ECB won’t stray from a conservative course and anti-inflation stance.

I have read a few of his speeches. Doesn’t mince words at all. Talks straight. Let’s see what happens. Selection of ECB presidency is always interesting. There is too much politics going on.

Do internship at Dept of Economic Affairs, Finance Ministry, India

Finance Ministry’s Department of Economic Affairs has launched internship program for 2010-11. It is a 2-month internship program for following:

Students possessing first class graduation degree pursuing Post Graduation / high second class post-graduation degree (with at least 55% marks) pursuing Research courses in Economics/ Finance/ Management at National Schools of Economics / Central Universities/ Recognized Financial/ Economic Institutions/ Recognized National Management Institutes can apply for internship.  Students with at least 80% marks in 12^th Standard pursuing five year integrated course in Law (only in fourth & fifth year of study) from the National Law Schools at Bangalore , Bhopal , Hyderabad and Kolkata are also eligible.

The last date for submission is 2 March 2010. Other details about forms etc are here

If interested apply, it would be worth it. Also forward the details to your friends/colleagues.

DEA had launched this program in Dec-2007.