This short film made with Seedance 2.0 is absolutely insane.The realism looks like a real movie — no one can…
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PERPLEXING MATTERS, by François Leclerc
Guest post. Translated from the French by Tim Gupwell
Two days ago, Christian Noyer, the Governor of the Bank of France, confidently commented on the decision taken by the BCE to put an end to all remuneration on the liquidities parked in the Eurosystem by the commercial banks. The banks prefer placing their holdings in a sure location, rather than lending it out to their peers. 800 billion Euros have recently taken this route – an unprecedented level. As one can see, there is no lack of liquidity in the market, the problem is the use it is…
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WELL SPOTTED, BRAVO!, by François Leclerc
Guest post. Translated from the French by Tim Gupwell
As already highlighted the Spanish government is already benefitting from a de facto rescue plan under another name. To save appearances, the new austerity measures put forward for vote in parliament have not been the object of a memorandum jointly signed with those providing the funds, as had previously been the case for other countries. In fact, the announcement of these measures came the day before that of the banking bail-out!
One major difference with the preceding rescue plans can be observed: the entirety of the 100 billion Euros…
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TIME WILL TELL… AND MAYBE IT ALREADY HAS , by François Leclerc
Guest post. Translated from the French by Tim Gupwell
In the hope of solving the problems once and for all, Mariano Rajoy has decided to take drastic measures in Spain. Taken as a whole, he asserts that the measures that he is going to have adopted by the Cortes (the Spanish Parliament) represent some 65 billion Euros of savings or additional revenues over a period of two and a half years, the remaining time granted to him by the European authorities to meet the new public deficit reduction schedule.
By committing himself to a path which El Pais…
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A CRITICAL MASS OF CONTRADICTIONS, by François Leclerc
Guest post. Translated from the French by Tim Gupwell
Once more, the crisis has taken a turn for the worst in the days after a summit which was intended to resolve it. Barely ten days ago, two practical decisions came out of it, and neither has been implemented in practice; nothing has really been done to seriously calm the bond market, while the link between public and private debt in Spain continues to be tightened, the complete opposite of the stated objective.
From meeting to meeting, the contradictions which seem insurmountable and resistant to compromise seem to be…
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THE NEW “STEWARDSHIP OF FINANCE” CHAIR AT THE VRIJE UNIVERSITEIT BRUSSEL
In September of last year, Paul De Knop, rector of Vrije Universiteit Brussel (VUB), set up a project for a teaching and research chair on the subject of finance seen from an ethical perspective. He put together a multidisciplinary team presided over by Michel Flamée, professor of law at the VUB, and including representatives from the VUB as well as the Université Libre de Bruxelles (ULB). This team asked me whether I would be prepared to associate myself with the project, and become ultimately the holder of the chair. I, of course, gladly agreed.
The VUB, the Dutch-speaking University in…
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THE SPANISH MINERS’ ‘BLACK MARCH’ REACHES MADRID, by François Leclerc
Guest post. Translated from the French by Tim Gupwell
(Copyright Uly Martin)In their hundreds, the ‘black march’ of the miners, who have come on foot from the North of Spain, has reached Puerta del Sol, where it was welcomed by thousands of Madrid residents. On strike since last May, they are fighting to prevent their mines from being closed as a result of cuts in government subsidies, something which would result in the devastation of coal basins in the Asturias, Leon and Aragon regions. Passing before Moncloa Palace, Mariano Rajoy’s residence, they chanted…
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WHEN WE’RE NOT MOVING FORWARDS WE’RE GOING BACKWARDS…, by François Leclerc
Guest post. Translated from the French by Tim Gupwell
The European Finance Ministers managed during the course of the night to finalize a minimal agreement, which needs, as usual, to be examined in detail due to its grey areas. They put together a set of nominations to the ECB and the ESM based upon the provisional re-appointment of Jean-Claude Juncker at its head, in the absence of any other solution. Then they reached a “tentative agreement” (another way of saying a broad outline) with regard to the particular case of Spain which needs to be wrapped up for…
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In the age of AI, the danger is not knowing less than machines, but understanding too slowly the structure of…
Ouch! The whole of cosmology was standing on its head, and now it’s back on its feet! And everything becomes…
To expand on this reflection, I’d like to propose an image that radically inverts our usual representation of the Big…
[…] GENESIS is a machine predicting where emergence will occur and what form it will take: the form that minimises descriptive length and maximises cross?representational coherence.…
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