Roubini Topic Archive: Baltics
Yesterday I argued that Latvia’s cost-cutting efforts are evident compared to a cross-section of European Union countries. Latvia’s efforts, while commendable, were very much a function of the emergency IMF loan in December 2008 and the ensuing recession in 2009. But I now see a very scary trend emerging across Europe, the fight for exports.
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Today Gerald F. Seib wrote an interesting article at the WSJ, Obama Invites GOP to Share Burden of Fixing U.S. In it, he says the following:
Thus, Mr. Obama, after reeling off a veritable litany of proposals focused on how to create jobs (a word that appeared 29 times in the speech), came to the heart of the political matter: Democrats’ stunning loss of a Massachusetts U.S. Senate seat means he tackles this daunting agenda one vote short of the 60 needed to stop Republicans from mounting filibusters to stop his initiatives.
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The New York Times published an article about Spain’s “soaring” unemployment rate among those aged 15-24. Across Europe and in the US, the unemployment rate for young workers surged in 2009. Labor reform is needed in Spain, which is the overall theme of the NY Times article; but the article confuses slightly the long-run phenomenon [...]
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