World Turns to Blogger for Euro Advice
Edward Hugh saw the euro's troubles coming
By Rob Quinn, Newser Staff
Posted Jun 10, 2010 7:41 AM CDT
A poster burns in front of Bank of Greece headquarters as the graffiti reads ''Burn banks'' during a march in central Athens last month.   (AP Photo/Thanassis Stavrakis)

(Newser) – A British man who's made his living as a part-time English teacher in Spain for decades is suddenly the hottest name in economics, because he got it right. Blogger Edward Hugh correctly predicted the current Eurozone crisis, pinpointing the reason as the difference in demographics between Germany and countries like Greece, where a younger population has borrowed heavily to buy property. He warned that it would eventually prove impossible for the Eurozone countries to coexist under the same currency, the Independent notes.

The IMF, international banks, and even the White House have been seeking Hugh's advice lately, and Paul Krugman tells CNN that "I wish he posted more." The 59-year-old says he's been getting plenty of job offers but he has no plans to give up his life in the countryside outside Barcelona. "I moved here to get way from the office. All these offers I'm getting, really, they can go and jump in the lake as far as I'm concerned." He did agree to attend a conference of Spanish businessmen and economists discussing the crisis last month, although he had to borrow money from friends to buy a suit.

More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
World Turns to Blogger for Euro Advice is...
Show results without voting
You Might Like
Showing 3 of 7 comments
Jun 12, 2010 8:16 AM CDT
A some point someone somewhere with a little time to spend is going to get it right. The issue is whether or not they are in the mainstream of whatever sector it may happen to be. I recall Einstein came up with something pretty important whilst sitting in a patent office in Austria. It doesn't matter in the big world if you have a 'suit' or 'no suit' I suppose it only matters if you are a 'suit'.
Jun 11, 2010 8:02 PM CDT
Probably has more time to analyze the data and is not under pressure to call it correctly or please anyone but himself.
Jun 11, 2010 1:23 AM CDT
I tend not to put all my eggs in the basket of economist that has to borrow money to buy a suit.