EconoMonitor

Don't Shoot the Messenger

  • The Great Portuguese Hollowing Out

    With every passing day Portugal has less and less economy left, while fewer and fewer people remain to try to pay down the debt. As Portuguese President Aníbal Cavaco Silva once put it, “A country without children is a nation without a future.” He was, of course, referring to his country’s ultra-low birth rate, which […]

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  • The Shortage of Bulgarians Inside Bulgaria

    Oh, there’s a hole in my bucket, dear Liza, a hole…… Wenn der Beltz em Loch hat – stop es zu meine liebe Liese Womit soll ich es zustopfen – mit Stroh, meine liebe Liese According to Angela Merkel, speaking in the German city of Mainz in mid February,  European countries struggling with the fallout […]

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  • Has Spain’s Economic Contraction Now Become Self Perpetuating?

    Spain’s political leaders are in cheerful, almost jubilant, mood at the moment. Economy minister Luis de Guindos, speaking in Davos, declared the tide had turned, and forecast that the Spanish economy would return to growth in the second half of 2013. “The perception of the Spanish economy has improved and will continue to do so […]

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  • Hungary’s Matolcsy Joins Japan’s Abe In Practicing The Ancient Art Of Verbal Intervention

    It’s amazing what you can achieve these days just by promising to do something. It’s also fascinating to watch just what a storm you can stir up. Last July Mario Draghi surprised markets when he  vowed to do anything – whatever it would take – to save the Euro. He didn’t go into details, he […]

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  • Japan’s Looming Singularity

    by Claus Vistesen and Edward Hugh According to Wikipedia, in complex analysis an essential singularity of a function is a “severe” singularity near which the function exhibits extreme behavior. The category essential singularity is a “left-over” or default group of singularities that are especially unmanageable: by definition they fit into neither of the other two […]

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  • After The Fat Lady Sings

    Financial journalists across the globe were both surprised and puzzled recently when they heard Christine Lagarde using a strange expression. “You know, it’s not over until the fat lady sings, as the saying goes,” she told bemused reporters at a press conference in Manilla. Which fat lady, and what does she sing must have been […]

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  • El Rosario De La Aurora

    The exact origins of the expression are unknown. They are lost back then, somewhere in the mists of time. But the meaning of the phrase is perfectly intelligible. In Spanish “to end up like the Rosario De L’Aurora” (acabar como el rosario de la aurora), means to end up badly. Very badly. The Rosario in question […]

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  • Taking A Man At His Word

    Legendary hedge fund supremo Ray Dalio is in ebullient mood. Following a series of moves by Mario Draghi to underpin European government financing Dalio told Bloomberg that, in his opinion,  the euro will now “likely” stay together because existing growth-constraining austerity measures will henceforth be balanced by money printing over at the European Central Bank. […]

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  • In Search Of Lost Demand

    So here’s the 5 trillion dollar trick question. In an interesting article on the limitations of central bank monetary policy in the current environment, Reuter’s Alan Wheatly made the following statement which caught my attention. “Central banks are rummaging through their toolkits because, despite slashing interest rates and buying vast quantities of bonds, they have […]

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  • The Owl Of Minerva

    Last week was the fifth anniversary of the outbreak of the global financial crisis. Not uncoincidentally  it was also the fifth anniversary of continually rising unemployment in Spain , since it was in early summer 2007 that seasonally adjusted Spanish unemployment embarked on its steady upward path. And after it started climbing, naturally it hasn’t […]

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