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If a gaffe is what happens when a politician accidentally tells the truth, what’s the word for when a politician deliberately tells the truth? Dutch finance minister Jeroen Dijsselbloem, the current head of the Eurogroup, held a formal, on-the-record joint interview with Reuters and the FT today, saying that the messy and chaotic Cyprus solution is a model for future bailouts. Those comments are now being walked back , because it’s generally not a good idea for high-ranking policymakers to say the kind of things which could precipitate bank runs across much of the Eurozone.
284,000: Number of American college graduates working in minimum-wage jobs in 2012.
Colleges and Universities See Graying Workforce Holding On to Coveted Positions
A new approach to corporate taxation By Michael Pomerleano
The NYT reports that China's government signed a deal with the state of California and General Electric to provide engineering expertise and high tech parts for the construction of high-speed rail. This is a fascinating and totally predictable story which cause great pain to many purveyors of the economic conventional wisdom (CW). China has been building high-speed trains, the United States hasn't.
I like Matt Yglesias’s characterization of the financial-reform bill, which finally passed Congress yesterday, as “ underrated .”