vrijdag 7 mei 2010
The least-bad rich-world economy : The charms of Canada
Good policies, good behaviour and good fortune: if only others could be as lucky. By 1995 Canada’s chronic fiscal deficits, towering public debt and stagnant economy prompted the Wall Street Journal to call it “an honorary member of the Third World”. Years of deficit cutting followed. The result was that Mr Harper’s government could easily afford the modest stimulus it applied in 2008. Government debt in Canada is still below 36% of GDP (and will soon fall), little more than half the (rising) ratio in the United States.
Read the complete article in The Economist here.The chaos after Greece's rescue: Coming to a city near you?
What has happened in Athens does not have to spread. But the euro zone still faces tough decisions. Read the complete article in The Economist here.
Green back
In a world of ugly currencies, the dollar is sitting pretty. Read the complete article in The Economist here.
A Money Too Far
The problem, as obvious in prospect as it is now, is that Europe lacks some of the key attributes of a successful currency area. Above all, it lacks a central government. Read Krugman's opinion piece in the NYTimes here.
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