Posts Tagged ‘sovereign debt’

  • Three awards

    A Euro Zone Olympic team?

    Jul 13, 12 • 352 Views • No Comments

    Sharing a larger and more varied pool of European talent was supposed to create an economic synergy. Starting with the European Coal and Steel Community in 1951, the first step was free trade. Nations were added, trade barriers disappeared, and by 2002, they......  [read more]

  • Economic Independence Day

    Jul 4, 12 • 356 Views • No Comments

    Alexander Hamilton must have been worried. In 1790, as Secretary of the Treasury, a troubled economy had become his responsibility. He had a huge federal debt to fund, a banking sector that was distressed, and an economy to stimulate. Sound familiar? Hamilton......  [read more]

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    Aging Benefits

    Apr 26, 12 • 485 Views • No Comments

    When you combine better health care with generous pensions you get (choose one): happy retirees happy politicians insufficiently funded national pension programs the eurozone the United States other   To select an answer let’s begin with 1935. Just......  [read more]

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    Default Deja Vu

    Nov 2, 11 • 359 Views • No Comments

    Between its independence in 1829 and 2006, Greece has had 5 defaults or debt reschedulings that occupied a total of 50.6 years.  Described by Rogoff and Reinhart in their 2008 paper and book, This Time It’s Different, few nations break out of a......  [read more]

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    Greece and Argentina

    Oct 25, 11 • 553 Views • No Comments

    Nobody wants Greece to become Argentina. It all began with what scholars Rogoff and Reinhart called the lending boom of the 1990s. Enjoying the influx of dollars, Argentina borrowed and grew and prospered…for awhile.  But when recession hit at the end......  [read more]