International
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“How a Rich and Proud Nation Went Broke”
“On Loyalty Day, October 17, 1951, Evita declared, “I ask you today, comrades, only one thing — that we will all swear publicly to defend Perón and fight to the death.” She died in 1952 of cervical cancer, and to this day people leave flowers at her family vault in Buenos Aires. The personality cult,…
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“A Three-Point Plan to Save the Euro”
“The rescue package requested by Greece will, if endorsed, buy the eurozone six months, perhaps a year at most. By then, the Greek government will have exhausted the aid and be forced to ask for more or to borrow at astronomical rates. This assumes that, before then, Greece does not precipitate into an even deeper…
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“Greece’s Threat to the Euro”
“All too often in the midst of an economic and financial crisis, policymakers either engage in denial or else take flights into fantasy. Sadly, the present Greek crisis is proving to be no exception. Rather than recognising the Greek crisis for the solvency issue that it is, European policymakers seem to be convincing themselves that…
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“Greece Formally Requests EU/IMF Aid”
“Prime Minister George Papandreou said Friday that ‘the time has come’ for Greece to request aid under a joint European-International Monetary Fund bailout mechanism following months of turmoil in Greek financial markets. ‘The time has come,’ Papandreou said in televised comments from the island of Kastellorizo. ‘It is a necessity. It is a national and…
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Deflating China’s Bubble
Reining in China’s investment boom will be hard. The Chinese authorities are damned if they do and damned if they don’t.
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China on a Tightrope
Economic reform requires political reform. China’s leaders must loosen control if they want harmony.
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“Euro Under Pressure As Greek Bonds Slump”
“The euro is slumping against the dollar Wednesday morning as Greek bond prices tumble and their yields surge higher against their German counterparts. The dollar is split against other major currencies, with little change against the yen, a retreat against the Canadian dollar and a partial rebound against the U.K. pound. As talks between Greece,…
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Hyperinflation
“Inflation is a sustained increase in the aggregate price level. Hyperinflation is very high inflation. Although the threshold is arbitrary, economists generally reserve the term ‘hyperinflation’ to describe episodes when the monthly inflation rate is greater than 50 percent. At a monthly rate of 50 percent, an item that cost $1 on January 1 would…
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“Unemployment and Inflation Inch Up in Europe”
“The unemployment rate in the euro area inched up to touch double digits in February, while inflation accelerated more than economists had forecast, probably a result of higher food and oil prices, according to data released Wednesday. Eurostat, the European Union’s statistics agency, said that seasonally adjusted unemployment in the 16 nations that use the…
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“Economists, Business Leaders Want Yuan to Appreciate”
“Chinese economists and business leaders have begun to call openly for their government to allow the yuan to appreciate against the dollar, in a sign that the issue is contentious here, too, and not just a problem between the United States and China. President Obama has urged China to let the value of the yuan…
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“How a Rich and Proud Nation Went Broke”
“On Loyalty Day, October 17, 1951, Evita declared, “I ask you today, comrades, only one thing — that we will all swear publicly to defend Perón and fight to the death.” She died in 1952 of cervical cancer, and to this day people leave flowers at her family vault in Buenos Aires. The personality cult,…
-
“A Three-Point Plan to Save the Euro”
“The rescue package requested by Greece will, if endorsed, buy the eurozone six months, perhaps a year at most. By then, the Greek government will have exhausted the aid and be forced to ask for more or to borrow at astronomical rates. This assumes that, before then, Greece does not precipitate into an even deeper…
-
“Greece’s Threat to the Euro”
“All too often in the midst of an economic and financial crisis, policymakers either engage in denial or else take flights into fantasy. Sadly, the present Greek crisis is proving to be no exception. Rather than recognising the Greek crisis for the solvency issue that it is, European policymakers seem to be convincing themselves that…
-
“Greece Formally Requests EU/IMF Aid”
“Prime Minister George Papandreou said Friday that ‘the time has come’ for Greece to request aid under a joint European-International Monetary Fund bailout mechanism following months of turmoil in Greek financial markets. ‘The time has come,’ Papandreou said in televised comments from the island of Kastellorizo. ‘It is a necessity. It is a national and…
-
Deflating China’s Bubble
Reining in China’s investment boom will be hard. The Chinese authorities are damned if they do and damned if they don’t.
-
China on a Tightrope
Economic reform requires political reform. China’s leaders must loosen control if they want harmony.
-
“Euro Under Pressure As Greek Bonds Slump”
“The euro is slumping against the dollar Wednesday morning as Greek bond prices tumble and their yields surge higher against their German counterparts. The dollar is split against other major currencies, with little change against the yen, a retreat against the Canadian dollar and a partial rebound against the U.K. pound. As talks between Greece,…
-
Hyperinflation
“Inflation is a sustained increase in the aggregate price level. Hyperinflation is very high inflation. Although the threshold is arbitrary, economists generally reserve the term ‘hyperinflation’ to describe episodes when the monthly inflation rate is greater than 50 percent. At a monthly rate of 50 percent, an item that cost $1 on January 1 would…
-
“Unemployment and Inflation Inch Up in Europe”
“The unemployment rate in the euro area inched up to touch double digits in February, while inflation accelerated more than economists had forecast, probably a result of higher food and oil prices, according to data released Wednesday. Eurostat, the European Union’s statistics agency, said that seasonally adjusted unemployment in the 16 nations that use the…
-
“Economists, Business Leaders Want Yuan to Appreciate”
“Chinese economists and business leaders have begun to call openly for their government to allow the yuan to appreciate against the dollar, in a sign that the issue is contentious here, too, and not just a problem between the United States and China. President Obama has urged China to let the value of the yuan…
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