Audacity and discontent in St.Gallen Nothing ventured, nothing gained – that is the message of this year’s St.Gallen symposium on “Facing Risk”. The media also covered the downside of audacity, and the discontent among students. 18 May 2012. Besides the opportunities of an appetite for risk, students, scientists and managers discussed the downside of audacity at the symposium in early May: the Euro crisis, wavering banks and the philosophical side of "The Economics of Good and Evil" were discussed. Fear for the Eurozone The German newspaper taz cited the financial injection for Greece as the main point of issue at the symposium (May 6). Former Prime Minister Georgios Papandreou, a guest at the symposium, reaffirmed that the Greek really want to see reforms (ORF, May 3). The former head of the European Central Bank, Jean-Claude Trichet, made a case for growth rather than economizing, the Financial Times wrote on May 3. In countries that have weathered the crisis well, one could think about cost-cutting measures. Severely shaken regions like the Southern European countries, however, should not be burdened further with cost-cutting measures. “A tidied-up budget is the prerequisite for growth”, said Trichet on Austrian radio station ORF on May 3. Peer Steinbrück made a case for calmness in the heated debate about Europe’s future. Germany’s former finance minister considers a stable monetary union indispensible (Handelszeitung, May 4). The achievements of peaceful cooperation are inestimable, Neue Zürcher Zeitung wrote about Steinbrück’s presentation at the symposium (May 4). Ribal al-Assad, the cousin of the Syrian president, was also a guest at the symposium. In an interview with Die Zeit he described the president as an anxious ruler without power. He also criticized the West for its hypocrisy (May 4). After the symposium, Gebhard Kirchgässner discussed how the election of France’s new president would affect the markets on Swiss Television (May 7). Technocrats for Greece Tages-Anzeiger dealt with the scenario of monetary reform in Greece on May 12. An “Operation Drachme” would have to take place on a weekend and happen secretly, said HSG economist Reto Föllmi. Drastic security measures would be necessary because the reintroduction of the old currency would be tantamount to a temporary expropriation of the nation. Political scientist Daniele Caramani is skeptical about whether an expert government can help provide Greece with more stability. Regarding Italy, he finds it a practicable approach, (Tages-Anzeiger, May 15). With such grim prospects, you may want to take a look into colorful fantasy worlds, which some like to get tattooed on their skin. Literary scholar Ulrike Landfester writes about tattoos and the longing (or the escape) for reality in Neue Zürcher Zeitung (May 11). Spontaneous actions in St.Gallen In the past few weeks, students and pupils have taken to the streets against the announced education savings package. The peaceful protests in the city and in the Rosenberg area caused a media echo. St.Galler Tagblatt broke ground with a report on the students’ first spontaneous demonstration in the city center (May 9). “HSG, you’ll soon be your own cliché”, Spiegel Online headlined on May 10 on the occasion of the speculation about a further increase of tuition fees at the university. East Switzerland Television captured scenes of a protest action during the university’s Dies Academicus (TVO, May 14). “St.Gallen’s politicians would be wise to balance short-term savings against long-term consequences for the university, the city and the canton. Education is even more mobile than the textile industry, of which St.Gallen only tells in the museum today”, Student Body President Philipp Wellstein wrote in Basler Zeitung. Media reports on HSG’s regional proportion of value added to the economy also emphasized that you shouldn’t bite the hand that feeds you (St.Galler Tagblatt / DRS, May 16).