The phrase “too big to fail, too big to save” in this case comes from an essay in Der Spiegel by Henrik Enderlein which says that the time to act is now, but also says that all the options available for action will fail. I take it he’s saying that Italy must take ownership for its debt, but Germans must also stand in solidarity or the speculators on the demise of the euro will have a field day.
Here they have to chase government, whereas other countries, such as Singapore and Ireland:
“actively come out and court companies like ours” with a unified package of incentives and benefits, he said. These could include a lower headline tax rate, and other financial concessions or benefits in exchange for specified investment, jobs and revenue outcomes from biotech and technology.
AUSTRALIA’S lofty status as the world’s second richest nation remains intact, new figures reveal, despite household wealth stalling this year.
In the seventh annual Global Wealth Report from Swiss bank Credit Suisse, the “lucky country” posted an average wealth of $US375,600 ($508,900) for every Australian, second only to banking hotbed Switzerland, with an average net worth of $US562,000.