Greece agreed on a plan with EU-IMF which requires sharp spending cuts and tax increases on Sunday to get their hands of more than 100 billion Euros of support. But Greece is no Iceland or Latvia where the people will live with massively painful cuts on their standard of living. Strikes and protests are increasing […]
German Economy Minister and Free Democrat Party Leader ( FDP is one of the junior partners in the ruling coalition and stands for its pro-business liberal policies) says he does not expect another bailout . Where does that leave Portugal and Spain which had their debt downgraded last week by S&P. I am guessing that […]
As has been the fashion since the financial crisis began with Bear Sterns, bailouts are worked out during the weekends ,the Greece one also was no exception. The bailout will require “great sacrifices” according to the Greek PM . The EU-IMF plan will lead to severe unemployment,GDP decrease and some economists suspect that this will […]
One of my pet theories is that they we see a lot of distortions and oppurtunities for arbitrage is because labor is not globalized while capital and trade are . When capital and goods/services with some restrictions can move freely around the globe , there are innumerable restrictions on movement of labor leading to outsourcing. […]
Markets were back up to previous levels after a bailout package for Greece got an assent from the Germans and the IMF.But the condition of southern Europe continues to be precarious as unemployment continues to be high and the health of the whole European financial sector remains in a critical state. Spanish unemployment tops 20% […]
Copenhagen was a disaster and there has been no agreement on how to proceed with policies on a global basis to deal with the ever growing problem of climate change and global warming. Its each country adopting its own policies and targets with reducing carbon emissions, which can only work on a local or at […]