German Consumer Confidence Slides Raising Eurozone Recession Fears

German consumer confidence dropped to the lowest in more than five years entering August as the sharp rise in energy and food prices continued to weaken purchasing power and the economic outlook continued to deteriorate. The GfK forward looking consumer confidence index for August declined to 2.1, its lowest level since June 2003 (and down […]

What Is The Risk Of A Serious Melt-Down In The Spanish Economy?

Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past, the ocean is flat again John Maynard Keynes ‘As far as I am concerned, this is … the most complex crisis we’ve ever seen due to the number of factors […]

What Is The Recession Risk For The German Economy?

Christian Menegatti in his Global Recession Watch post on RGE Monitor last week strang together an impressive list of countries which might be at risk of entering recession during 2008. One name which was conspicuously absent from the list was that of Germany. Yet the situation here is not as self evident as some may […]

Italy’s Economy On The Ropes (Again)

“Italy’s per-capita GDP growth was 5.4% in the 1950s, 5.1% in the 1960s, 3.1% in the 1970s, 2.2% in the 1980s and 1.4% in the 1990s. A rough-and-ready extrapolation of this decade-long continued slowdown would lead to expect no more than 0.5% in the 2000s.” Altogether, the long-run data suggest that the bad performance of […]

Has Spain Contracted The Artemio Cruz Syndrome?

The Mexican writer Carlos Fuentes once wrote a novel entitled “The Death of Artemio Cruz”. The novel begins with an elderly Artemio who suddenly finds himself awake and lying on his deathbed, gripped by repeated spasms of excruciating pain, and terrified even to open his eyes for fear of what it is he might get […]

Will The Real Ukraine Central Bank Please Stand Up!

Does anyone happen to know offhand the “official” dollar rate of the Ukrainian currency, the Hryvnia? I am asking this question since clearly over at the central bank they are having difficulty deciding at the moment, since – like the legendary character Hydra – they seem to be speaking with two “heads” at the same […]

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