If Greece is to recover, it needs EU support. Politics, more than economics, will determine its fateGreece has presented the eurozone with its biggest challenge since the global economic crisis erupted. The issues arising from the high levels of government borrowing and debt in Athens pose delicate problems for the European Central Bank and EU [...]
• Conservative leader: action swift but not extensive• Sources deny Cameron rowing back on pledge to tackle deficitDavid Cameron gave a clear sign today that Conservative spending cuts designed to prevent Britain facing a Greek-style debt crisis would begin with only modest savings in public spending this summer.Speaking in Davos, the Conservative leader said [...]
From the FT:
Volcker has the measure of the banks – John Gapper
Why we should expect low growth amid debt – Carmen Reinhart and Kenneth Rogoff
An early warning system for asset bubbles – Charles Roxburgh and Susan Lund
How to make the difference betwe…
Bill Gross deals blow to government with warning to his investors that Britain’s debt makes it a ‘must to avoid’The government’s hopes of claiming credit for reviving the British economy suffered a severe blow today when the world’s biggest buyers of bonds warned that the UK was a “must to avoid” for his investors as [...]
The CBO has its *Economic and Budget Outlook* out: The two most noteworthy of CBO’s analytical judgements, from my perspective: 1. Unemployment is not going to get much higher, but it is likely to stay above 8% until the second half of 2012 (and there …
Thanks Bill. This from Bill Gross, manager of the world’s largest bond fund. The man James Carville might have wanted to be reincarnated as – and the 32nd most powerful person in the world, according to Forbes.
The UK is a must to avoid. Its Gilt…
Unless it is one rule for the big and powerful and another for the small, the EU must stand behind Athens’ new leadershipGreece has been condemned by European officialdom for its huge deficits. “No government or state can expect from us any special treatment,” comes the warning from Jean-Claude Trichet, president of the European Central [...]
1) Jackie Calmes: Political Memo – Questioning the Use of a Commission on the Debt Limit: >[J]ust in time for the latest debate, the unpublished posthumous memoir of a central figure on the Greenspan panel, Robert M. Ball, a former Social Security c…
David Kern, chief economist at the British Chambers of Commerce (BCC)The December deficit, although lower than expected, does not justify any complacency. The UK’s deficit is still massive by historical standards and debt has risen to a record high. Nevertheless, there is a realistic possibility, on the basis of recent trends, that the outcome for [...]
By Michael Pomerleano
In Growth in a Time of Debt, presented at the AEA 2010 Annual Meetings in Atlanta (www.aeaweb.org/aea/conference/program/retrieve.php?pdfid=460) Carmen Reinhart and Kenneth Rogoff study the link between different levels of debt an…