Ian Bunn | Political & Popular Culture Arts

John J Studzinski the British American Banker and vice chair of Human Rights Watch, serving on many prestigious bodies councils and arts institutes has published an article in The Guardian titled ‘Germany is right: there is no right to profit, but the right to work is essential’ highlighting the strength of Germany lies in its medium-sized manufacturing firms, whose ethos includes being socially useful. Studzinski states “People talk too much about the economy and not enough about jobs. When economists, academics and bankers are allowed to lead the debate, the essential human element goes missing. This is neither healthy nor practical. Unemployment should be our prime concern. Spain, with youth joblessness close to 50%, is in the gravest crisis, but there is hardly a government on the planet that is not wondering what it can do to guide school-leavers into work, exploit the skills of older workers, and avoid the apathy and alienation of the jobless, which undermines not just the economy but also the social fabric. There may be no definitive answer but, over the past half-century, Germany has come closest to finding it. Its postwar economic miracle was impressive, but its more recent ability to ride out recessions and absorb the costs of reunification is, perhaps, even more remarkable. …Germany’s resilience springs from the strength of its medium-sized, often family-owned manufacturing companies, collectively known as the Mittelstand, which account for 60% of the workforce and 52% of Germany’s GDP. …There is no right to make a profit, and profit has no intrinsic value. But there is a right to work, and it is fundamental to human dignity. Without an opportunity to contribute with our hands or brains, we have no stake in society and our governments lack true legitimacy. There can be no more urgent challenge for our leaders. The title of the next G8 summit should be a four-letter word that everyone understands – jobs.”

Inspired by John Studzinski, The Guardian ow.ly/hMIcU Image source HRW ow.ly/hMIbg

Mario Draghi the 64 year old Italian banker, economist and President of the European Central Bank has told European politicians that they should do a lot more to tackle the debt crisis, according to an Aljazeera article. The article states “He says the current setup is unsustainable and has urged member states to take immediate action towards developing a clear vision for the next few years. …warn[ing] that the structure of the euro currency union has become unsustainable and criticised political leaders, who, he said, had been slow to respond to a European debt crisis now well into its third year. “Can the ECB fill the vacuum or lack of action by national governments on the structural front? And again the answer is no, structural reforms don’t have much to do with monetary policy,” Draghi said, adding: “Can the ECB fill the vacuum left by the lack of euro area governance? And the answer is no. So, let’s ask: What can we do now? What is the next step? The next step is basically for our leaders to clarify what is the vision for a certain number of years from now.” …All of this has taken a toll on the value of the euro currency. It fell to its lowest level in almost two years against the dollar.”

Inspired by Aljazeera ow.ly/bJhPY image source World Economic Forum ow.ly/bJhwz

Rotten system in hands of political lobbies (October 28th)

Paolo Baratta the 72 year old Italian former banker and Chairman of the Venice Biennale art exhibition has been informed his position will cease at the conclusion of this year. Baratta is deeply involved with the Italian cultural sector, sitting on several institutional and organizational boards. His successor Giulio Malgara a businessman has little experience with the arts will assume the role from the 1^st January 1012, and is seen by some as a political appointment. The Mayor of Venice Giorgio Orsoni released a statement stating, “I am convinced that Giulio Malgara is an unsuitable person to carry out the role of chairman of the Venice Biennale and that it would be a mistake to confirm him in this position. It would interrupt a vital and fruitful process that needs to be seen through to the end.”

Inspired by Anna Somers Cocks http://ow.ly/6YFZP image source Starkwhite http://ow.ly/6YG7K

Sir Frederick Anderson Goodwin formerly the chief executive of the Royal Bank of Scotland Group (RBS) at a secret High Court hearing obtained a super-injunction preventing the United Kingdom media from identifying him as a banker or discussing his affair with a married colleague. The ruling on the basis of privacy effectively gags all media reporting on the affair, leading to the only remaining alternative in the use of parliament privilege by a parliamentary member to disclose the extent of the gag order and its effect on freedom of speech. The use of costly super-injunctions has received much criticism in the UK for covering up celebrity scandals, and their availability to only those with the wealth to effectively purchase them.

Inspired by Steve Swinford ow.ly/4ftaW image source BadIdea ow.ly/4ft9B