Felix Salmon

Expecting an early Greek default

Greece is going to restructure its debts — and it’s going to do so before mid-2013. That’s the clear message sent by the latest Reuters poll of 55 economists from across Europe: 46 of them saw a restructuring in the next two years, with four saying it would happen in the next three months.

Taxes, syndication, and web traffic

Last Wednesday, I picked up on the excellent taxation story which David Cay Johnston syndicated to a group of 40 alt-weeklies. It got a fair amount of attention — but then, five days later, on Monday, it exploded:

Beer-drinking charts of the day

How do we know that the world is getting happier? It’s drinking more beer! Here’s the chart, from a new paper by Liesbeth Colen and Johan Swinnen:


2D Glasses — Gizmodo

The Animated S&P Downgrade Warning — ZH

Brokers/scalpers won’t like this: Ticketmaster moving to flexible ticket pricing — LAT

Why Gordon Brown can’t run the IMF

Gordon Brown is very comfortable at the IMF. He chaired its most important committee, the IMFC, for many years, and he would love to take the top job of managing director. There might be a vacancy soon, if the incumbent, Dominique Strauss Kahn, steps down to run for president of France. But it won’t be filled by Brown, now that UK prime minister David Cameron has made his opinions crystal clear.

Regulatory arbitrage of the day, Citigroup edition

Well done to Tracy Alloway for calling it as it is, in a post headlined “Citi’s Basel-dodging, capital-avoiding, accounting switch”. At issue is a pool of $12.7 billion in assets, which is housed at Citi’s “bad bank”, Citi Holdings.


What does the filler text “lorem ipsum” mean? Only a masochist wouldn’t want to know — Straight Dope

How to support investigative journalism

Paul Steiger is rightly proud of his latest Pulitzer — the second for ProPublica in as many years. He’s right, too, that such things don’t come cheap:

The year of business Pulitzers

The Pulitzers are notorious for ignoring business journalism. But they made up for it this year: just about anything which could go to business journalism, did.