We are the World. Save the Banks.
Tuned in part way to a Swedish TV (svt.se on the web) show playing a German TV spoof regarding the Euro banking crisis and the Occupy protests. A German show — and I presume it was something like a “Daily Show” — was holding a telethon to “Save the Banks” with background music from “We are the World”. It seemed to be an excellent piece of farce worthy of early Saturday Night Live seasons, although I didn’t keep up with the Swedish subtitles of the German show.
On the serious side of Euro and global economics, the Germans are flexing their muscles over the Greece bailout. France and Germany were working hand-in-hand until the latest blow up in Greece. Now Germany is emphasizing that as the largest economy in the EU, they want some control in that most of the bailout money will be Deutschmarks.
Karin Hübinette of SVT interviewed Swedbanks vd Michael Wolf (that’s VP and no apostrophe on possessives), regarding record profits. (Disclaimer: Valdemarsviks Sparbank, the only bank in town and right across the street, is part of Swedbank.)
Sweden does have the fastest recovering economy in the developed world — not merely the EU — following the global recession. Credit is given to the financial system reforms made during the early 1990’s financial hick-up that affected global economies. Anyone remember Clinton’s first campaign, “It’s the economy, stupid!”. It seems Sweden did something in the aftermath that served it well this time around. I do not know the specifics, yet. Sweden arrested the decline in an automated fashion earlier than other developed economies and propelled the recovery at a faster rate than those other economies. There was a Post story on this a couple of months ago that I posted on Facebook.
Anyway, the point of departure was that the German spoof was funny. I also thought the “#Occupy Jupiter” poster I shared on Facebook was funny, IMHO.