To break from the program of brutal austerity that has been imposed on Greece, its leaders have no choice but to take radical action.
While leaving the currency will most certainly be economically, politically and socially traumatic, the last five months of cyclical negotiations have proven to be ineffective in accomplishing the kind of change Syriza promised during its campaign. And the last five years have been disastrous for the people of Greece.
When Syriza won Greece’s parliamentary elections in January of 2015, much ado was made in the international press about the rise of a new radical Left in Greece—a development that had punctured Greece’s longstanding two-party stalemate and opened up the possibility of rolling back the brutal austerity measures imposed upon it by “the troika,” the European Commission, the International Monetary Fund and the European Central Bank. The upstart Leftists, born of anti-austerity social movements…
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If you?re one of the fortunate few software developers to have scored HTC?s Vive virtual reality headset, you?ll want to keep an eye out for a delivery truck in the near future. Valve has confirmed that it?s shipping the Vive Developer Edition to a ?wide range? of teams, ranging from indie game studios to big-name movie producers. It?s not clear how many got their VR headgear, although Owlchemy Labs? Devin Reimer has revealed that he?s on the short list. You?ll still have to wait until the end of the year to snag a Vive if you?re a regular gamer, unfortunately. Still, the developer release at least suggests that the public launch is on track.
? Devin Reimer (@DevinReimer) June 5, 2015
Via:Road To VR
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Part 1 is here, Orderly or Not (short version: not).
Also noted yesterday, the Fed sees no risks of bubble trouble because they are looking at it all from the 2008 perspective. That is completely wrong-headed; if there is a “next one” it will have nothing to do with subprime mortgages, or even mortgages and real estate. By March 2007, the conventional estimate is that there were $1.3 trillion in subprime mortgages outstanding, all of which caused inordinate decay in liquidity and pricing through wholesale mechanisms that turned out to be disastrously self-feeding and often contradictory (as an example, tranche pricing through correlation trading where correlation estimates were based on CDS prices derived from liquidity in hedging demand which traced back to tranche pricing). Everyone seems to simply assume that the subprime problem ended in 2008, if only by crash.
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Apple Pay’s tap-to-buy service might not be confined to the US for much longer. The Telegraph‘s sources hear that Apple will use next week’s Worldwide Developer Conference to announce the UK launch of its mobile payment service this summer. Reportedly, the company will flick the switch sometime in the next two months. It’s not clear exactly which companies have signed up, but 9to5Macclaims that big bank Lloyds TSB is a launch partner; MasterCard, meanwhile, says that it’s “absolutely ready” for an Apple Pay debut in Great Britain. There’s no word of a similarly quick introduction for other countries (sorry Canada), but it’s evident that Apple wants to spread its shopping tech far and wide before rivals show up.