Archive for June, 2011
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Can Italy Grow Its Way Out of Debt?
What follows is simply a follow-up note to my earlier (Elephant in The Euro Room) piece on Italy. The decision by S&P to put Italian sovereign debt on negative outlook, and the subsequent announcement by Moody’s that it was considering a downgrade has been widely commented on by analysts, and it might be interesting to [...]
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Red Lights Flashing For Eurozone Growth
The June Flash PMI reports, which were out on Thursday, do not make agreeable reading, in the sense that while the French and German economies both continued to expand during the month, their rate of expansion, and in particular in the leading manufacturing sector, seems to have dropped sharply, and for the second month running. [...]
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Nine Reasons Why Spain’s Economy Is More Different Than You Think!
Spain, as those 1990s tourist brochures used to tell us, is different. And it certainly shouldn’t be confused with Greece. Even a cursory look at the most basic of maps should satisfy any doubts we might be harbouring in that regard. But being different is not the same thing as being economically sound. Which is [...]
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India’s Economy Hits What Has To Be A Very Welcome “Soft Patch”
“If you look at the world, it would inevitably appear India’s growth is preordained. The world needs working hands. The world needs back offices. India seems to be a natural fit…We are producing a workforce which is not only for India, but a global workforce.” Sunil Bharti Mittal, founder and chairman of New Delhi-based Bharti [...]
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To QE3 Or Not To QE3, That Is The Question
Back in July 2010, in introducing a blog post with the title “Is There Global Economic Slowdown In The Works?” I couldn’t help posing the following question: “According to Ralph Atkins writing in the Financial Times last week, “the pace of Germany’s recovery is helping dispel fears of a “double dip” recession across the continent [...]
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BELLS in Hell that Don’t Go Ting-a-Ling-a-Ling
After the BRICS, came the PIGS. Now a new acronym is being born, that of the BELLS. These particular “ding-dongs”, however, are not a set of hollow cast-metal instruments suspended from the vertex and rung by the strokes of a clapper, they are countries, countries which may, like those unfortunate WWI British soldiers whose love [...]














