Golden Rule - ander europa
... • The macro-economic scoreboard does not take into account different levels of economic development of the member states and imposes a one-size-fits-all framework • During the run-up to the crisis the ECB kept interest rates low, which was helpful for the struggling German economy, but caused overhe ...
... • The macro-economic scoreboard does not take into account different levels of economic development of the member states and imposes a one-size-fits-all framework • During the run-up to the crisis the ECB kept interest rates low, which was helpful for the struggling German economy, but caused overhe ...
The Failure of the Euro
... But the plan to increase the banks' capital has not worked, because banks do not want to dilute the holdings of their current shareholders by seeking either private or public capital, and so instead they have been raising their capital ratios by reducing their lending, particularly to borrowers in o ...
... But the plan to increase the banks' capital has not worked, because banks do not want to dilute the holdings of their current shareholders by seeking either private or public capital, and so instead they have been raising their capital ratios by reducing their lending, particularly to borrowers in o ...
Greece
... output loss of -6.45% of GDP (2 times bigger the mean OECD country loss and 3 times the median loss) ...
... output loss of -6.45% of GDP (2 times bigger the mean OECD country loss and 3 times the median loss) ...
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... these states could take on much more debt, without the interest rates reflecting the risks. In order to enforce government budget discipline in Europe, the capital markets must receive credible signals that in the case of one country’s over-indebtedness, the creditors bear liability before help from ...
... these states could take on much more debt, without the interest rates reflecting the risks. In order to enforce government budget discipline in Europe, the capital markets must receive credible signals that in the case of one country’s over-indebtedness, the creditors bear liability before help from ...
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... South Korea and Singapore and capture third market effects. Real rates are calculated using national CPIs. Where CPI data are not yet available, estimates are used. ...
... South Korea and Singapore and capture third market effects. Real rates are calculated using national CPIs. Where CPI data are not yet available, estimates are used. ...
1 Prices of Italian government debt have fallen sharply
... fellow Europeans and, possibly, the private sector agreeing to extend maturities for Greek debt. This would then give time for other European countries (including Italy and Spain) to put their finances in order and to recapitalise the banks where necessary. Thus, when the inevitable default came, th ...
... fellow Europeans and, possibly, the private sector agreeing to extend maturities for Greek debt. This would then give time for other European countries (including Italy and Spain) to put their finances in order and to recapitalise the banks where necessary. Thus, when the inevitable default came, th ...
images/uploads/SPL Beware Greeks Bearing Gifts
... takings through the till. In some cases a discount is offered for a cash transaction as against the use of a credit or debit card which necessitates the establishment of a paper trail. Much has been made of a small economic improvement in Greece this year as proof that tax revenue will grow. However ...
... takings through the till. In some cases a discount is offered for a cash transaction as against the use of a credit or debit card which necessitates the establishment of a paper trail. Much has been made of a small economic improvement in Greece this year as proof that tax revenue will grow. However ...
Slide
... (II) THE FISCAL MORAL HAZARD PROBLEM Periphery-countries’ interest rates converged to Germany’s after they joined the euro => investors perceived no default risk. Figure 1 ...
... (II) THE FISCAL MORAL HAZARD PROBLEM Periphery-countries’ interest rates converged to Germany’s after they joined the euro => investors perceived no default risk. Figure 1 ...
EU446 Patterns of economic integration in Europe
... Public Debt (2): How about growing out of your difficulties? ...
... Public Debt (2): How about growing out of your difficulties? ...
tu-91-116 economics of european integration - MyCourses
... Slow growth and negative growth (partly due to financial crisis) has worsened the situation in countires with large debt to begin with - Financial crisis affected banks and govenrments needed to support them ...
... Slow growth and negative growth (partly due to financial crisis) has worsened the situation in countires with large debt to begin with - Financial crisis affected banks and govenrments needed to support them ...
Peter/Marko changes in GREEN
... the end of 2011. Of the 39.9 percent increase in government's debt-to-GDP ratio from 2007 to 2011, the European Commission estimates that 24.2 percent will be attributed to interest expenditures. Furthermore, Athens will have to attract investors for its government bonds by offering higher payouts. ...
... the end of 2011. Of the 39.9 percent increase in government's debt-to-GDP ratio from 2007 to 2011, the European Commission estimates that 24.2 percent will be attributed to interest expenditures. Furthermore, Athens will have to attract investors for its government bonds by offering higher payouts. ...
Topic B : The Greece Debt Crisis
... alone than a member of the EU, which implied that investors felt the EU would discipline their finances and support Greece with their economic problems. In 2009, reports showed that Greek money mismanagement increased borrowing costs, this meant that Greece could no longer borrow to finance trade a ...
... alone than a member of the EU, which implied that investors felt the EU would discipline their finances and support Greece with their economic problems. In 2009, reports showed that Greek money mismanagement increased borrowing costs, this meant that Greece could no longer borrow to finance trade a ...
Thank you very much for inviting me here today. I`m flattered to
... The country has no choice but to try and cut costs relative to the rest of the eurozone. This is possible. Germany and the Netherlands have successfully pursued eye-watering wage restraint within the eurozone. The problem of course is that it’s impossible for every economy do this simultaneously. I ...
... The country has no choice but to try and cut costs relative to the rest of the eurozone. This is possible. Germany and the Netherlands have successfully pursued eye-watering wage restraint within the eurozone. The problem of course is that it’s impossible for every economy do this simultaneously. I ...
Economics in a Foreign Language Course
... drachme had double digit services increased. inflation rates. Thanks to the euro Greece Exports, 7 % of the Greek could borrow cheaply and GDP, became more expensive. enjoy relative price stability. ...
... drachme had double digit services increased. inflation rates. Thanks to the euro Greece Exports, 7 % of the Greek could borrow cheaply and GDP, became more expensive. enjoy relative price stability. ...
eurozone_debt_crisis
... to the southern nations. This increased liquidity raised wages and prices, making their exports less competitive. Because they were on the euro, they couldn't do what most countries do to cool inflation -- raise interest rates or print less currency. Public spending rose, while tax revenues fell, du ...
... to the southern nations. This increased liquidity raised wages and prices, making their exports less competitive. Because they were on the euro, they couldn't do what most countries do to cool inflation -- raise interest rates or print less currency. Public spending rose, while tax revenues fell, du ...
lewin dos pueblos
... • The European debt crisis is causing volatility in global markets due to uncertainty • However, the bailout is likely to fix the problem. The Euro is expected to recover • US economic growth is unlikely to be ...
... • The European debt crisis is causing volatility in global markets due to uncertainty • However, the bailout is likely to fix the problem. The Euro is expected to recover • US economic growth is unlikely to be ...
Complete Article
... The definite answer is NO. To explain, allow me to give a background on Greece’s situation and how it differs from Puerto Rico’s. Greece is one of 19 European nations that, since 2002, adopted the Euro as its common currency. The Euro project has been successful from a political standpoint, allowing ...
... The definite answer is NO. To explain, allow me to give a background on Greece’s situation and how it differs from Puerto Rico’s. Greece is one of 19 European nations that, since 2002, adopted the Euro as its common currency. The Euro project has been successful from a political standpoint, allowing ...
Michael Burda 13 March 2010, VOX.EU
... All of this is supposed to reduce the deficit by 4% of GDP in the coming year – a bare-knuckled discussion of the structural deficit that the Greeks never got around to reducing when they entered the Eurozone in 2002. We economists warned that the euro wasn't a one-way street, and politicians blithe ...
... All of this is supposed to reduce the deficit by 4% of GDP in the coming year – a bare-knuckled discussion of the structural deficit that the Greeks never got around to reducing when they entered the Eurozone in 2002. We economists warned that the euro wasn't a one-way street, and politicians blithe ...
Opening Pandora`s box
... allowing Greece to lurch out of the European project makes sense, given the strong question mark such a development can raise on the irreversibility of the union. After all, let us not forget that Greece makes-up less than 2% of eurozone GDP and has an economy, which is smaller than the size of Mila ...
... allowing Greece to lurch out of the European project makes sense, given the strong question mark such a development can raise on the irreversibility of the union. After all, let us not forget that Greece makes-up less than 2% of eurozone GDP and has an economy, which is smaller than the size of Mila ...
슬라이드 1 - Claremont Graduate University
... Efforts to calm markets by committing to longer run costs and/or trying to hide problems 3. Guaranteeing debt (caused Ireland’s huge fiscal deficit) 4. No default mantra 5. Repeated statements by leaders that they would do “Whatever it takes to save the Euro” without making sufficient actual commit ...
... Efforts to calm markets by committing to longer run costs and/or trying to hide problems 3. Guaranteeing debt (caused Ireland’s huge fiscal deficit) 4. No default mantra 5. Repeated statements by leaders that they would do “Whatever it takes to save the Euro” without making sufficient actual commit ...
The Continuing Crisis in Greece and Eurozone Dimitri B. Papadimitriou
... be pure fantasy as the recent level of over 170% testifies especially, if one considers that this ratio was about 125% at the onset of the crisis four years ago prior to any “rescue” support from the country’s lenders, and even after the word’s highest debt “haircut” in 2012. Greece maybe the hardes ...
... be pure fantasy as the recent level of over 170% testifies especially, if one considers that this ratio was about 125% at the onset of the crisis four years ago prior to any “rescue” support from the country’s lenders, and even after the word’s highest debt “haircut” in 2012. Greece maybe the hardes ...
EU policy impacts and perspectives
... Barroso; ‘unsustainable’, root of problems Way for gvts to finance activities Borrow (from banks, funds, public – so it is from us) Repay, with interest Low rate of interest, economic growth, repay easily (-ve real rates of interest for short-term credits, now) ‘unsustainable’ = lenders will not tru ...
... Barroso; ‘unsustainable’, root of problems Way for gvts to finance activities Borrow (from banks, funds, public – so it is from us) Repay, with interest Low rate of interest, economic growth, repay easily (-ve real rates of interest for short-term credits, now) ‘unsustainable’ = lenders will not tru ...
Elena Papadopoulou
... Problems accentuated by the architecture of the EU and the eurozone (no fiscal transfers, breakdown of monetary transmission mechanism, role and scope of the ECB, Banking Union not moving forward) Danger of disinflation German strategy of keeping surpluses while the South must keep in ...
... Problems accentuated by the architecture of the EU and the eurozone (no fiscal transfers, breakdown of monetary transmission mechanism, role and scope of the ECB, Banking Union not moving forward) Danger of disinflation German strategy of keeping surpluses while the South must keep in ...
How Does Greece Impact You?
... This all sounds very gloomy, but prospects may emerge from the gloom. A(nother) golden opportunity? In the event Greece defaults, the search for safe havens could mean a quick flight to gold. If a Greek bailout succeeds, there may still be fiscal instability among EU members, and presumably an easy ...
... This all sounds very gloomy, but prospects may emerge from the gloom. A(nother) golden opportunity? In the event Greece defaults, the search for safe havens could mean a quick flight to gold. If a Greek bailout succeeds, there may still be fiscal instability among EU members, and presumably an easy ...
Greek government-debt crisis
The Greek government-debt crisis (also known as the Greek depression) started in late 2009. It was the first of five sovereign debt crises in the eurozone – later referred to collectively as the European debt crisis. In Greece, triggers included the turmoil of the Great Recession, structural weaknesses in the Greek economy, and a sudden crisis in confidence among lenders.In late 2009, fears developed about Greece's ability to meet its debt obligations, due to revelations that previous data on government debt levels and deficits had been misreported by the Greek government. This led to a crisis of confidence, indicated by a widening of bond yield spreads and the cost of risk insurance on credit default swaps compared to the other Eurozone countries – Germany in particular. In 2012, Greece's government had the largest sovereign debt default in history. On June 30, 2015, Greece became the first developed country to fail to make an IMF loan repayment. At that time, Greece's government had debts of €323bn.