If austerity is such a horrible policy, then how to explain Ireland? Yes, Ireland, the country that as recently as nine months ago was grouped right along with Greece as belonging to the economic dregs of Europe.
Feeling a little numbed by news from Greece? I don’t blame you if you do. I’m beginning to feel a little jaded myself by the “news story that never ends.”
Europe is entering into a recession. Statistics that came out yesterday show that Italy is the latest country succumbing to negative growth. Is austerity not working? Or does the fault lie in too little austerity in Europe?
Europe’s biggest tragedy has largely escaped notice here in the US. It’s not the outbreak of civil unrest. Nor is it the scourge of a rapidly shrinking economy. It’s not the threat to European banks. And it isn’t the possible breakup of the European Union.
you like soap opera, maybe you still get a weird mix of thrill and concern when you read the headlines about Greece. Then again maybe you’re sick of reading about Greece’s problems and default that’s always just around the corner. After all, you’ve been fed these “immanent Greek collapse” headlines for almost three years.
Hey, it’s okay to ignore those screaming headlines on Greek strikes and Italian malaise. At least according to one Canadian analyst.
“Anyone who’s a chief risk officer is running these scenarios — say if the euro falls 15 percent, stocks fall 25 percent, if the possibility of default increases, what if recovery rates falls…The scenarios are getting quite complicated.” Mark Wightman, head of strategy for Asia-Pacific at specialist technology group SunGard. What happens
Dry good shipping rates for the biggest floaters on water, Capesize vessels, have plunged 76% this year alone. If there was no flood of ships going into shippers’ fleets, I’d call this a very significant bear indicator. But there is. Shippers went way overboard in 2008 when the economy was peaking and
