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Greece: Argentina revisited ?
Interesting Fed research on the parallel between Greece and Argentina. And while the US Fed of San Francisco is trying to avoid alarmist conclusions, the Greek crisis has not ended yet.
Het VK bespaart
De besparingen in het VK gaan diep: 93 miljard euro. De pensioenleeftijd wordt opgetrokken tot 66 jaar, de overheid moet ontvetten, alle departementen moeten bijdragen. De FT schrijft:Declaring that “today is the day where Britain steps back from the brink”, George Osborne, the chancellor of the exchequer, revealed dramatic ...
Duitsland steekt de VS voorbij
De crisis heeft ook op de arbeidsmarkt de kaarten herschud. Voor de crisis was de werkloosheidsgraad in de VS minder dan 5%, vandaag bedraagt die ongeveer het dubbele. De Duitse werkloosheidsgraad staat echter fors lager dan voor de start van de crisis. In 2007 bedroeg de werkloosheidsgraad 8,4%, vandaag 6,9%. ...
A 1000 Bn USD waste of money for Greece
Greek interest rate spreads are back at crisis levels of just before the EMU bailout fund. After 1000 Bn USD bailout effort, we are back at square 1. The Greek crisis has not been ended because of several reasons: Greece has received credits to (re)finance its (growing) debt, but the debt servicing ...
German peak oil fears
Yesterday, the draft version of a study by a German military think thank was leaked to Der Spiegel . Subject of the study was the question how peak oil could change the global economy. This shows that peak oil is taken seriously by the German government. Some extracts from the study (summarized and ...
The "Power Elite" becomes worried
When people like George Soros speak, the world listens. It usually arouses attention on the issues of mega speculation : what is he buying or more importantly, what is he "shorting big time" this time ? Not this time. In fact, the recent interview of Soros in the run-up to the G-20 meeting next weekend is unveiling the thoughts of ...
Het decennium van de deflatie
De financiële crisis heeft zowat alle discipline weggeveegd. Begrotingen ontsporen, monetaire politiek en afspraken worden ad-hoc bijgesteld, schuldenproblemen van landen worden overgenomen door andere landen etc. We leven in een periode van improvisatie. Waar dit naartoe leidt weet niemand met zekerheid. Centrale bankiers zijn ...
Germany is footing the EU-bills
The Greek Prime Minister Papandreou asks for more EU-support , economic stimuli to lift the Greek economy. The original interview with Papandreou can be found here (in the Spanish newspaper El Pais ). A quick look at the EU-budget shows that Greece already receives most from the EU-budget, and Germany ...
Griekse bailout: welk alternatief ? - Update Terzake
Deze avond moet ik op Ter Zake komen uitleggen of ik de bailout van Griekenland nog steeds een slecht idee vind...Wel vorige week spraken we nog over 35 miljard, nu al over 110 miljard euro. Ik vind het dus nog 3 keer meer een slecht idee...
Savings Greece, or saving the banks ?
The decision to bailout Greece has been taken. 110 Bn euros will be spent to (re)finance Greek debt. It will be the biggest bailout operation in Europe, and apparently the biggest the IMF has ever undertaken.Given this size, you would expect more explanation on the strategy to help Greece in the long run. Without an economic ...
















