Belgium is not the Greece of the North

Belgium is not in the league of Greece. But we have to be careful: it depends on the financing capacity of the country. And if we continue on this road, competitiveness - not the budget - will kill us. European Economics Update Belgium & Greece (Feb 10)

• Written by Geert Noels
• On  February 24, 2010
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NBB jaarrapport 2009

Vanavond is er een voorstelling van het jaarrapport van de Nationale Bank van België door Gouverneur Quaden in Antwerpen.

• Written by Geert Noels
• On  February 24, 2010
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Olymponomics

The Olympics are a great event. The Summer games draw more attention, and are a gigantic organisation. The Winter games are much smaller, are more cosy and in a certain sense... warmer. Speaking about temperatures, it is too hot in Vancouver, some 10 degrees above normal.But we are more interested in the economics of the Olympics. ...

• Written by Geert Noels
• On  February 17, 2010
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Canada is very econoshock-proof!

If you had to emigrate one day, what country would you choose ? It is a classic question, and I guess everybody has an answer in mind.Until recently, I would have put Switzerland on the number one spot.There is also the nuance: emigrate to work or to live (and retire).After my fifth visit to Canada, and first time in British ...

• Written by Geert Noels
• On  February 21, 2010
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This time is just the same

The author of the best-selling book "this time is different" is rather bearish. The euro is not viable, countries will default, the recovery is not sustainable...

• Written by Geert Noels
• On  February 23, 2010
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Over the edge

If you did not get enough excitement in the markets...The Matterhorn is one of the most thrilling mountains in the world.And some people seem to have a kind of death wish...Enjoy the ride, and prepare yourself for next week's roller coaster on the markets.(Click through to watch in YouTube)

• Written by Geert Noels
• On  February 05, 2010
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Lies, damned lies and statistics

All media report that unemployment decreased in the US last month. So, no worries about Greece, the US is improving ! Not...The reason why unemployment is dropping, is simply discouraged workers leaving the job statistics. The more discouraged workers leave, the more unemployment drops.In the meanwhile, the latest batch of ...

• Written by Geert Noels
• On  February 05, 2010
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Klara met Mia De Vits

Herbeluister Klara : na ongeveer 1/3 gaat het over tewerkstelling en loonkosten. Ik vond het wel een leerrijke discussie. Mevrouw De Vits heeft een wat andere invalshoek, maar er werd naar elkaar geluisterd, de verdienste van Werner Trio. Klassieke muziek, het was eerder jazz, is rustgevend vermoed ik...

• Written by Geert Noels
• On  February 06, 2010
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Zwijgen over loonkosten, spreken over innovatie

"De industrie verdwijnt niet omdat de loonkosten te hoog zijn, maar omdat we te weinig innovatief zijn" . Dat lijkt wel de consensus te worden na al de discussies de afgelopen weken.

• Written by Geert Noels
• On  February 07, 2010
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RTBf, Matin Première

J'étais l'invité ce matin de la RTBf, émission Matin Première. Bertrand Henne avait préparé des questions économiques (la Grèce, les bourses, le système capitaliste, Econochoc) très variées. C'était comme toujours très agréable et chaud à la fois, avec des questions de l'audience qui venaient comme une mitraillette. J'avais le ...

• Written by Geert Noels
• On  February 08, 2010
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Real estate, the next leg?

The chart above comes from the IMF stability review, January update. It shows the price evolution of US real estate. The red line is from the commercial sector; and has started to fall seriously as from 2009. Until now, it has not attracted as much attention as the subprime and other housing real estate. But it must hurt, and will ...

• Written by Geert Noels
• On  February 09, 2010
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Aging and financing problems - update

The chart above shows the exit age in different countries. I have highlighted the Club Med countries, Ireland, France and Belgium. The latter two have the longest and the fourth longest expected period in retirement. In terms of pension reserves, they are unfortunately not well prepared to tackle this problem.Today, the Minister of ...

• Written by Geert Noels
• On  February 09, 2010
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Should we really help Greece?

It is a cruel question, but a very valid one. For a start, Greece has cooked the books , and has misled euroland co-members when entering the euro. The country has not taken appropriate measures to clean up its mess, and lets things run out of hand. So why should German taxpayers help a country that has ...

• Written by Geert Noels
• On  February 10, 2010
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Financial Quiz

• Written by Geert Noels
• On  February 11, 2010
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Belgian real estate bubble?

The Economists' databank on house prices gives a rather surprising picture. It shows that Belgium in different valuation measures has climbed the most. The Price to Median Income ratio has deviated much more than in the Netherlands, the UK or the USA.It is rather counterituitive to me. I do not have the impression that Belgian real ...

• Written by Geert Noels
• On  February 11, 2010
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Economische pleonasmen en tautologieën

"Alles Kan Beter" is eenvoudige en geniale televisie, die ik met plezier terugzie. Mark Uytterhoeven en grappige televisiemaker zijn synoniemen.Bubbleblower Greenspan, een verdeelde Europese Unie, verlammende verstaatsing zijn tautologieën, we zoeken nog wat economische pleonasmen om de lijst te vervolledigen...

• Written by Geert Noels
• On  February 12, 2010
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De Vrije Markt over Wallonisering - update

...niemand houdt van de term, maar iedereen lijkt het eens met het fenomeen.

• Written by Geert Noels
• On  February 12, 2010
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Take your own destiny in hand

Apart from being a brilliant marketeer, Guillaume Van der stighelen is an inspiring thought leader. In a recent op-ed article , he pleads for more entrepreneurship as the only real solution for the crisis. Whatever you have been promised, a solution to this recession cannot come from the government and ...

• Written by Geert Noels
• On  February 13, 2010
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Medic + Nordic = euro

Splits de euro op in een harde en een zachte munt, voor de kernlanden en de Club Med-landen. De namen zijn wat ongelukkig, maar het idee is niet onzinnig. Het werd in de weekendeditie van NRC-Handelsblad besproken. Het idee komt van prof.dr Alfred Kleinknecht van de TU Delft. Sommigen, zoals Age Bakker, ...

• Written by Geert Noels
• On  February 13, 2010
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Broadband in Belgium

• Written by Geert Noels
• On  February 13, 2010
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