Patrick Barron has been a consultant to the banking industry since 1985. He teaches Bank Management Simulation at the Graduate School of Banking, University of Wisconsin, Madison and Austrian Economics at the University of Iowa. He has contributed a weekly essay in the Austrian vein to The Bulletin, Philadelphia since 2006. As president of the Right Approach Group, which offers free market solutions to current economic problem, he has spoken at economic conferences at the EU Parliament offices in Brussels, Belgium and Strasbourg, France.
"Keep your own promises" and "Harming one's own citizens"
Two headlines from today's Open Europe news summary, along with my comments at the end:
Tsipras expected to request additional help at EU summit as Greek funding problems deepen
Speaking in the Greek parliament yesterday, Greek Prime Minister Alexis Tsipras struck a defiant tone and insisted that his party will not “go back on what [it has] promised” – adding that it is the rest of the Eurozone which must stop taking “unilateral actions” and stick to the extension agreement.
German court issues nationwide ban against Uber
A German regional court in Frankfurt yesterday imposed a nationwide ban on the online taxi firm Uber, preventing it from running services using unlicensed cab drivers. The court also set a €250,000 fine for any violations of local transport laws.
Comment number one:
Why should the rest of Europe be required to pay for promises made by the Greek government to its own people?
Comment number two:
Germany harms its own citizens when it denies them the right to purchase a good or service. This is an obvious case of protecting vested interests at the expense of the rest of society. (I doubt that this court ruling stops Uber, because people obviously value the service.)