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The return to growth October 17, 2012

Posted by proeconomia in Fiscal policy, Main, Monetary policy, News on Greece, On the crisis, Opinion.
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This is another article sent by Constantina Kottaridi. Colleague Nikos Karamouzis, @ U of Piraeus, writes about the steps needed for getting back to growth. The article is in Greek from the newspaper Kathimerini.

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Money, meaning and capitalism October 17, 2012

Posted by proeconomia in Main, On the crisis, Opinion.
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Our colleague Constantina Kottaridi sent me this article, from Harvard Business Review, on the trade-off between meaning and money. This is part of today’s homework – read it and read the readers’ comments as well. Then, turn to this website about a person from the past, Ayn Rand, who have never heard about before and read some of her thoughts on capitalism here and there. What do you make of it? It tourns out that the problems we are facing will always have a foundation that goes beyond that of making money. What do you think?

Here’s Why Europe Must Do More to Save Its Currency Union October 17, 2012

Posted by proeconomia in Fiscal policy, Main, Monetary policy, News on Greece, On the crisis, Opinion.
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Have a look at this one from Bloomberg. Also see this earlier article that this one quotes about the cost to Germany for helping the weaker countries in the EU getting out of their current predicaments. But then again ain’t the Germans that have done the calculations!

Updated the fellow bloggers links October 15, 2012

Posted by proeconomia in Main.
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I just updated the list of those of you who were kind enough to click on “like” for one of our posts and have your own websites/blogs. Many thanks for your support and always feel welcome to point out to us anything that is worth posting here!

Yes, yes, wages are the problem prices are not… October 15, 2012

Posted by proeconomia in Main, News on Greece, On the crisis, Opinion.
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OK, this is is Greek (you can translate it of course online) and says the following: given an average inflation rate of 5% over the past two years the price increases on basic goods reached over 25%!!! Now, for the first 8 months of 2012 the following goods were more expensive (over the previous year) as: sugar by 15% (its so bad for you so do not use it), sodas by 8.2% (also very bad for your health, do not drink them), fruit juices by 7% (they are not that bad but hey, get into a diet), eggs by 6.8% (they are high on cholesterol, why do you insist on eating them?), coffee by 6% (you should find other methods for staying awake at work) fresh fruits by 5.7% (you can live for a couple of years without them), frozen fish by 4.5% (they are from polluted waters, right?), fresh milk by 4.4% (what is this?), and so on. You see, wages are the problem because price increases were introduced for health and safety reasons! There is always a bright side on things, maybe you should see that side instead of this constant whinning?

Global Economic Distress 3.0 Looms as Emerging Markets Falter October 14, 2012

Posted by proeconomia in Fiscal policy, Main, Monetary policy, On the crisis, Opinion.
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Have a look at this one as well. Source is Bloomberg.

Schaeuble Rules Out Greek Default and Plan B October 14, 2012

Posted by proeconomia in Fiscal policy, Main, Monetary policy, News on Greece, On the crisis, Opinion.
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Have a look at this article from Bloomberg. You may or may not agree with the current policies being implemented in Greece but there the truth in this: Greeks and the Greek economy have been under great stress and in a recession which is going to be on record next year (six consecutive years of negative growth). If you take a look at the global growth data from IMF here you will find very few instances after 1980 that such a situation occurred. Therefore, anytime anyone raises the prospects of Greece leaving the euro at this state of the economy (with no productive capacity, corruption, tax evasion, increased unemployment, low wages, brain drain etc.) probably has an ulterior motive. Both in the Bloomberg article and elsewhere in today’s Greek news the issue of Grexit is raised again. As economists we all know that there is no free lunch for anyone around, so someone has to pay the cost for such an outcome but also someone is going to reap the benefits from Greece out of the euro. And, as we have done many times in other posts, the question is this: who is going to reap the profits of a Grexit? Names and occupations please! Names and occupations!

The list… October 13, 2012

Posted by proeconomia in Fiscal policy, Main, News on Greece, On the crisis, Opinion.
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OK, now its not really news but I was watching the theme on TV (the channel was Antenna TV, news @ 8) and I thought, what the heck, lets post it! Germany, Spain and Italy have already collected from tax evasion of monies in Swiss banks 7.8 bn euros while France alone already collected from the same source 6.2 bn euros. Total for these countries 14 bn euros from tax evasion in Switzerland alone! Greece has not done anything yet although the evidence was and, as the French are stating still is, fully available to Greek authorities. On the other hand all of us are expected to pay more in taxes in the following year, albeit with much lower income and being in the 5th year of negative growth…It just makes you wonder (again!)

Six Headstrong Women Confidently Raise Acropolis Roof October 8, 2012

Posted by proeconomia in Main, News on Greece, On the crisis, Opinion.
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Something different but worth reading, especially for its ending. Its from Bloomberg.

Iron Ore Heads for Longest Bear Market in 20 Years October 3, 2012

Posted by proeconomia in Main, On the crisis, Opinion, Trade.
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Read this one carefully, as it reflects on the current economic situation and the prospects of future growth. Iron ore is a top primary resource for many of the things that you see and use around you.

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