Profile

Cover photo
Pavlos Papageorgiou
Works at Toshiba
Attended University of Edinburgh
Lives in Edinburgh, UK
646 followers|330,485 views
AboutPostsPhotos+1'sReviews

Stream

 
Curves, spirals, and grids by a playful Frank Gehry. 

The Louis Vuitton Foundation in Paris. Impressive exterior, insubstantial structure, boring contents. Like their bags.
1
Add a comment...

Pavlos Papageorgiou

Shared publicly  - 
 
Here's what Jaques Sapir intends to present in tomorrow's conference on Greece and its creditors. His summary: Change EU policy, or restructure, or Grexit. We all hope for the first option, of course.
 ·  Translate
Ce lundi 16 mars se tiendra à Athènes une conférence sur l'évolution des relations entre la Grèce et ses cr&ea...
1
Add a comment...
 
Jaques Sapir on why the Euro is not a unifying force for Europe, but a divisive force. I agree. Also worrying is how Germany benefits from a status quo that for the rest of Europe is deeply dysfunctional. While Germany benefits, it's unlikely to support a change.

Original in French: http://russeurope.hypotheses.org/3590
1
Christian Sander's profile photo
 
Sad, but true.
Add a comment...
 
I broadly agree with Hausmann that lack of exports is Greece's problem. Some of us have been saying this since before 2007, when the gap between Greek consumption of imports and production of exports was ominous. But Hausmann is wrong to say austerity is not the problem.

Greece has long had an inward-focused economy. Domestic services are produced at a healthy and competitive level, but goods consumption is lopsided on imports. Greece borrowed to fill that gap, while showing a GDP rise due to the increase in consumption services (retail etc.) and it was obvious that would end badly.

What is the right solution though? Commentators, especially from northern Europe say "increase exports" but that's easier said than done. Is it realistic for Greece to attempt to build electronics or machine factories that compete with Germany or Asia? Most Greeks would doubt this at this point. Is that a perception problem holding Greece back? Maybe.

More realistically one has to be flexible in interpreting the word "Exports". What should Greece sell more of? Maybe it's boutique goods. Maybe an advanced service economy. Hard to do when Greece has no credibility in finance. But we need some realistic ideas for exports.

Also, austerity may not be Greece's problem but it is Europe's. This whole article describes the root problem, lack of export competitiveness. But the current acute crisis is caused by low consumption in Europe overall, as well as excessive reliance on imports for Greece. Urgent interventions are to boost consumption in Europe and shift Greece to a more domestic consumption mix, as a devaluation would do. The export problem is real, but a later one to tackle.
4
1
Robert Gibson II's profile photo
Add a comment...

Pavlos Papageorgiou

Shared publicly  - 
 
Groan! Hans-Werner Sinn is spectacularly wrong in asserting that EU taxpayers will eventually incur real losses as a consequence of balance sheet losses of the ECB, such as government bond defaults. They key word here is eventually – as in never. HWS's argument is that central banks yield dividends on interest so a balance sheet loss means foregoing such dividends. And, HWS argues, the net present value of the bank as a public investment is equal to the future stream of dividends.

That is really misleading, or misguided. Yes, eventually. In many decades or centuries all other things being equal the citizens will incur a loss (actually foregone income). But other things are not equal over long periods. The citizens are right now incurring far greater actual losses in terms of forgone GDP as a result of the bank failing to conduct monetary policy, as the Germans seem determined to hamstring it from doing. And, to state the obvious, it is kind of the point of the central bank to conduct monetary policy, not to generate very slow profits through interest.

What is the obsession with sound money mercantilism coming from Germany? Wilful blindness? A new covert libertarian ideology? A stance that serves todays winner in intra-European zero-sum competition? I hate to say "The Germans" don't understand macroeconomics, as that's clearly untrue, but why is it always Germans and US libertarians who see active monetary policy as either a fiction or the work of Satan?

Also, technical point: Why does HWS lump base money with the assets of the ECB? Surely they are liabilities. Am I missing something or is that more sound money fetishism?

#Economics    #ECB   #centralbank  
1
Joerg Fliege's profile photo
 
HWS is quite often uttering ideas which are ---how shall I put this?- not quiet right. Or rather wrong. It is sometimes fun to assert the opposite position of his and then arrive at a perfectly valid viewpoint. Don't take him too seriously.
Add a comment...
Have him in circles
646 people
Robin Green's profile photo
Nat Seacruiser's profile photo
Alli Love (Haaggis)'s profile photo
Dennis D. McDonald's profile photo
Sean Murphy's profile photo
Ginny Bevan's profile photo
Xhevat Zeneli's profile photo
Seb Paquet's profile photo
Eva real's profile photo
 
Our "rock star" finance minister sensibly proposes that European QE be used to fund investments in the real economy instead of inflating northern-european stock markets. I fear that German capital and other financial beneficiaries like their artificially boosted profits too much to allow this.
Dear All, Ministerial duties have impeded my blogging of late. I am now breaking the silence since I have just given a talk that combines my previous work with my current endeavours. Here is the te...
5
Add a comment...
 
Letting this process run its course would be a fine way to deal with America's gun-wielding obsession.
Support independent cartooning: join Sparky's List —and be sure to visit TT'...
View original post
2
Add a comment...
 
I'm unimpressed by the new Apple products. Gold finish? seriously? Is Apple that much of a consumer product company now?

Also, my Mac Book Pro that I bought almost two years ago has a 2.7 GHz i7, 16GB RAM, 1.5TB storage, and a gigabit Ethernet port. The best one they make now has a 2.5 GHz i7, 16GB, 1TB storage, no Ethernet port. Their top of the line product spec has gone significantly backwards in the space of two years.
4
Add a comment...
 
Did you know that the +YouTube Android app now plays audio in the background if you switch off the screen? It works like a music app. For those of us who listen to the vast quantity of YouTube content that's essentially podcasts, this is awesome. Thank you, developers.
8
1
Harris Floudas's profile photo
Add a comment...

Pavlos Papageorgiou

Shared publicly  - 
 
Zizi speaks! I don't find Slavoj Zizek in any way precise or a guide to truth, and I suspect if he would agree, but his philosophy helps us see things from new and challenging angles. Especially when base motives may be at play.
'The idea one gets from our media is that the Syriza government in Greece is composed of a bunch of populist extremists who advocate 'irrational' and 'irresponsible' populist measures. Nothing can be further from the truth.' Slavoj Zizek, Potemkin Review
2
Geoffrey Swenson's profile photo
 
Exactly what we were talking about a couple days ago. Syriza isn't far left. Even the Germans are going to have to come around eventually that what Syriza is trying to do is well considered and pragmatic, hardly radical at all.

It's a topsy turvy world where doing the right thing is considered radical, all right.
Add a comment...
 
This is the left critique, which views Greece's deal as total defeat. I don't agree. Syriza promised three things:

- End punishing austerity and promote growth.
- Refuse the debt and related conditions.
- Stay within the Euro.

The latter two are incompatible. Greece got a pretty good deal, possibly the best deal available while staying in the Euro. The only way to substantially move from that position would be for Greece to introduce a new currency, so that it can reject creditor demands and finance deficits by monetary expansion (printing money).

Would that have been a better option? Maybe. Iceland and Argentina fared pretty well economically and I think Greece would too. But Greece is afraid to leave Europe for geopolitical reasons. A relationship with Russia is natural but dangerous, and culturally Greece wants to avoid becoming part of the middle east. Also domestically, Europe is seen as a force that pulls Greece away from its own backward and destructive tendencies including fascism. Syriza wasn't elected to take those risks, or at least they would require a fresh mandate.

Greece's deal isn't a bad deal for Greece given the circumstances and the alternatives. It is, for sure, no victory in the struggle between worker-friendly Keynesianism and capital-friendly austerity. But Greece turned up for this battle with no allies. Europe needs a shift of public opinion and electoral results before austerity can be challenged across the block. Greece has survived to fight in that war another day.
3
Daniel Ryan's profile photo
 
I think you are correct. Although its still a poor deal if they have to continue asset sales. Most other things do short term damage. But with Europe determined to stick to a hardline neoclassical economic stance and pretend Greece is not the Canary warning of doom for all, it was the best they could do. Against these blind opponents next negotiation Syriza will have to at least credible threaten to leave Euro or they will be forced to break their other promises. Will judge them by there results there.
Add a comment...
 
Northern Europeans often say "Greece is spending X hundreds of Euros per Dutch, etc. taxpayer on frivolous things like hiring cleaners and school teachers." That is largely untrue, on two grounds:

The great bulk of the #bailout money went to replace existing loans of one sort or another that the Greek state had, mostly with european banks. If #Greece had defaulted, European banks would have a hole in their balance sheets and would have to impose losses or ask for state bailouts. The latter happened. Northern European taxpayers bailed out largely their own deposits in their banks.

The Greek state did take an amount of money to pay salaries and pensions because it's very hard to cut these from a deficit to zero overnight. That was spent on actual assistance to the Greek people, but it was a modest amount and now Greece is in surplus (i.e. doesn't need more). That money was a loan, and I suspect if Europeans knew the true amount they might also offer it as a gift (aid). Again the bulk of the money went to roll over bad loans.

The other reason why the claim is false is that funds that go to replace bad loans or recapitalise banks don't need to come out of taxpayer's pockets. Since the funds are not being spent, but are just going to stay in banks to replace funds that have gone bad (to put it simply), this can be done painlessly with central bank money. That's what the US, UK, and Japan did to recover from their crises. The EU forbids it on ideological grounds, and because there's not enough trust yet between countries, but that doesn't mean that #austerity and passing paper losses to real taxpayers is the only option.
“We wanted to make sure that the … money for Greek bank recapitalisation is for that purpose, not for recapitalisation of the government,” Dijsselbloem said. Bild-Zeitung, the largest newspaper of ...
3
Add a comment...
People
Have him in circles
646 people
Robin Green's profile photo
Nat Seacruiser's profile photo
Alli Love (Haaggis)'s profile photo
Dennis D. McDonald's profile photo
Sean Murphy's profile photo
Ginny Bevan's profile photo
Xhevat Zeneli's profile photo
Seb Paquet's profile photo
Eva real's profile photo
Work
Occupation
Designer
Employment
  • Toshiba
    2009 - present
  • Barco
    2004 - 2009
  • Voxar
    1994 - 2004
Places
Map of the places this user has livedMap of the places this user has livedMap of the places this user has lived
Currently
Edinburgh, UK
Previously
Athens, Greece - Benin City, Nigeria - Milos, Greece
Story
Tagline
Think, write, play, lead
Introduction
Hey I'm Pavlos. You may know me from Milos, Benin City, Athens, Edinburgh, the fine company Voxar, Barco, or Toshiba. I used to have long black hair but now it's short and white to signify my great wisdom. When I learn more spells I'll grow a white beard.

I'm from no place and it puzzles me why people ask. My passport says Greek, but I've been living in the UK for 20 years now and never quite got used to this soggy island. My heart bleeds for Europe, so that makes me a European. I split my time between Scotland, Japan, Greece, and the US, damaging the planet in the process. That is my greatest shame.

A long time ago I had the calling of programming and supposedly trained as a computer scientist, although despite the efforts of some great teachers I never made a great geek. Nowadays I know more about economics, banking, political theory, feminism, health care, anatomy, radiology, interaction design, game design, architecture, writing, organizations and business. And languages. C'est la vie...

I'm proud to work for Toshiba because it's a highly ethical company with a sense of responsibility to the world. I work on healthcare innovations, hoping to make health a less traumatic experience. However this is a personal page and I don't feel at liberty to speak professionally. All views are of course my own and not endorsed by my employer.

I find people amazing and wonderful but also very hard work. The norms of society never felt right to me, and I've always been in unusual relationships with unusual combinations of people. I'll defend everyone's right to do this. Now however, I'm a privileged white male with a mostly straight lifestyle, so stop me if I speak or act like one.
Bragging rights
I dipped my feet in three oceans and seven seas. Some of them were cold.
Education
  • University of Edinburgh
Basic Information
Gender
Male
Other names
Prokopeas (maternal), Frantzeskakis (partner & son), Παύλος Παπαγεωργίου
Pavlos Papageorgiou's +1's are the things they like, agree with, or want to recommend.
composite memories
www.f1me.net

Existential crises in stick figure form

Astrid Task/To-do List
market.android.com

Astrid: Perfect personal to-do list Even better when shared with friendsAs millions of users have discovered, Astrid is more than just the p

Plus Minus - Chrome Web Store
chrome.google.com

Plus Minus makes Google+ rock. It lets you select which Circles show up in your Google+ Stream, allows you to easily mark...

Half of US social program recipients believe they "have not used a gover...
www.boingboing.net

Archives Features Reviews Science Video Submit. Half of US social program recipients believe they "have not used a government social pr

How To Fix America In 126 Super Cute Seconds
front.moveon.org

Nine kids explain it all. Watch: <img src="http://front.mo

The Top Notch Fallacy or: Why parents can forget about elite schools
economicsintelligence.com

If you talk to people in London who have small children, there is a fair probability that one issue will be touched upon sooner or later: mo

OpenP2P.com: Piracy is Progressive Taxation, and Other Thoughts on the E...
openp2p.com

Creative Commons Celebrates Release of Machine-Readable Licenses. On Dec. 16, Creative Commons machine-readable licenses will be available t

Why Nikola Tesla was the greatest geek who ever lived - The Oatmeal
theoatmeal.com

Additional notes from the author: If you want to learn more about Tesla, I highly recommend reading Tesla: Man Out of Time; Also, this Badas

Where Am I?
www.newbanner.com

Where Am I? by. DANIEL C. DENNETT. Now that I've won my suit under the Freedom of Information Act, I am at liberty to reveal for the fir

xkcd: Felidae
xkcd.com

XKCD updates every Monday, Wednesday, and Friday. You can get prints, posters, and t-shirts in the store. Felidae. |< · < Prev · Rando

The Baseline Scenario
baselinescenario.com

Orientation. Like the site? Get free updates via email, RSS, Twitter, or Facebook (and tell your friends). Want more? Read 13 Bankers: The W

An Impeccable Disaster
www.nytimes.com

The moralizers, who hate the idea of letting nations off the hook for alleged fiscal sins, are sending the euro over the edge.

A Foray into Monetary Policy and Tangentially Related Speculations
baselinescenario.com

By James Kwak Yesterday I wrote an Atlantic column about the bizarre situation that the Federal Reserve is in. Ordinarily, we think centr

Podkicker Pro Podcast Player
market.android.com

This is one of the most popular podcast players for android. If you don't like it, just send me an email and ask for a refund =)★ Dedicated

Money, loans and economics
rwer.wordpress.com

In a blogpost, Paul Krugman asks, while defending the heuristic use of neo-classical economics : “What would truly non-neoclassical economic

Give Israel's secular liberals their own state
www.haaretz.com

We will feel a lot better when we no longer have to explain to totalitarian minds why liberty is important. What a relief!

‪AtGoogleTalks's Channel‬‏ - YouTube
www.youtube.com

The @Google Talks program brings authors, musicians, innovators, and speakers of all stripes to Google for talks centering on their recently

Astrid
astrid.com

Astrid - To-do, Together

We discovered this by chance while climbing up the hill and it was excellent. Great food cooked in a homely way, very friendly staff, and feels more like a home than a restaurant. A gem in Como, which is otherwise ta touristy town with quality hard to find.
Food: ExcellentDecor: ExcellentService: Excellent
Public - a year ago
reviewed a year ago
This restaurant is good but not exceptional. I think it gets undeservedly high reviews for things that are superficial. The cooking is of good quality, neat, not padded with salad or sauces. Good ingredientes, but some dishes salty or a little heavy. Food has some character and is not bland/generic. Relatively small menu, which is good. Many vegetarian options. Good food but not great. Certainly not excellent. The decor is a mistake in design. Looks like an 80s disco with dinner tables, easy listening, mix of east and west utensils. Staff are overly attentive and excessively polite but seem inexperienced. Yeah whatever. I prefer the plain and super-efficient style of Chinese.
• • •
Food: Very GoodDecor: GoodService: Good
Public - a year ago
reviewed a year ago
This hotel is very stylish, but seems more concerned about its own image than about caring for guests or making you feel welcome. Think wannabe nouveau-riche snob, not real upper class luxury with the substance behind it. Not worth full price.
Quality: GoodFacilities: Very GoodService: Good
Public - 2 years ago
reviewed 2 years ago
19 reviews
Map
Map
Map
This used to be a wonderful short hike through a forest. Now (2013) a logging company has cut down the forest leaving a bare landscape of dead trees. It'll make you depressed, especially if you remember the place as it was before. Avoid. In fact skip Skye altogether and go elsewhere in Scotland. The Storr was the island's star attraction and now it's ruined, for several years at least.
Appeal: Poor - FairFacilities: Poor - FairService: Poor - Fair
Public - a year ago
reviewed a year ago
Every time I'm in Chicago I love to eat here. It's casual (a relief from the business feel of the city), cheap, good, and honest. The Spicy Beef is spicy and made of beef – what more can I say? Very popular and full in the evenings, but don't book, just show up and try to get a seat.
Food: Very GoodDecor: Very GoodService: Excellent
Public - 2 years ago
reviewed 2 years ago
This is a world-class bakery. The bread is outstanding – certainly the best in Edinburgh and possibly in Scotland. Tthe sweets and the coffee are very good. Pizza and soup I'd say average and not a strength of the place. Service can be slow, especially at busy times. The glass building in the former Royal Infirmary complex is surprisingly warm for a glass building in Edinburgh. Originally started by Swedes as an early morning coffee shop/bakery with a Swedish slant, this is now more of an all day spot. They stay open and also serve some wine and beer in the evening.
• • •
Quality: ExcellentAppeal: Very GoodService: Good
Public - 2 years ago
reviewed 2 years ago