Euro Rules Take Bite Out of Peripheral Countries
February 3rd, 2010 admin
Internal devaluation may sound like something you talk to your therapist about, but it’s serious business for Latvia, according to a paper from the Washington-based Center for Economic and Policy Research . And it could be a major problem for countries in the euro zone, too, one of the authors says. Latvia, economists Mark Weisbrot and Rebecca Ray note, “has seen a world-historical drop in GDP of more than 25%.” With another 4% decline expected this year, its output loss will be even greater than the Great Depression. A “large” reason, the authors say, is an overvalued fixed exchange rate the country maintains in the hopes of being able to join the euro. “With the nominal exchange rate fixed, the adjustment in the real exchange rate takes place through pushing down prices and wages…
Related Videos from Youtube
Housing, economy, yen, WSJ article...Schiff Report Video Blog Aug 25th 2010 Below is a link to the WSJ article. online.wsj.com
WSJ's Walt Mossberg - iPad - "...WSJ's Walt Mossberg - iPad - "I wish it [the iPad] played Flash." and New York Times' David Carr on no Flash on the iPad. The Charlie Rose Show - Friday, April 2, 2010
Apple iPad Guided Tour: The Wall St...Read the Wall Street Journal on iPad and soak up news from around the globe, everywhere you go. In-depth analysis, real-time quotes, video, and WSJ Radio — all your favorite sections of the Journal are here — and theyre even better on iPad. The large display shows you an entire page of award-winning news. Turn iPad horizontally to see two pages at once. You can even customize this app to get only the news you want, when you want it.
WSJ Busts GOP On Stimulus Hypocrisy...online.wsj.com TYT Network (new WTF?! channel): www.youtube.com
Related Posts
European Central Bank President Jean-Claude Trichet says some countries in the euro zone might have to accept a period of deflation to restore long-term economic growth prospects. “Some countries, to regain competitiveness, will have to keep inflation below the EU average,” Mr. Trichet told the Italian paper Il Sole 24 in an interview...
Interest rates on 30- and 15-year fixed-rate mortgages hit new record lows again this week, according to the weekly rate survey by government-supported lender Freddie Mac. The average rate on 30-year fixed-rate mortgages fell slightly to 4.56 percent this past week, down from 4.57 percent the week before. The average rate on 15-year fixed-rate loans...
Stocks slumped Tuesday as the euro touched a fresh four-year low versus the dollar, keeping Europe’s woes front and center and overshadowing better-than-expected earnings from big U.S. retailers.
Read More →
European Central Bank staffers conclude that market-based valuation of sovereign risk is a “valid” way to discipline fiscal policy “especially but not only in times of crisis.” The implication, a trio of economists write, is that there’s “little justification for the claim that governments faced with high risk premiums during the crisis...
A 10% depreciation in the euro could provide a sizable boon to the euro zone, without hitting the U.S. too hard, according to OECD.
Read More →
Wage and benefit costs, both before and after adjusting for inflation, grew more slowly 2009 than any year since the U.S. government began tracking data in 1982 as double-digit unemployment weakened workers’ ability to command higher pay. Over the past 12 months, the cost of wages and benefits for workers other than those employed by the federal...
Asian stock markets tumbled Monday on investor concern the Europe debt crisis will worsen as the euro fell to a 4-year low.
Read More →
Fixed mortgage rates headed higher this past week, with the standard 30-year fixed-rate mortgage rising back above 5 percent for the first time in a month.
Read More →
Mortgage interest rates fell to new lows again this week, with 30- and 15-year fixed-rate loans and 5-year adjustable rate mortgages (ARMs) all breaking their previous records set just last week.
Read More →
Mortgage rates held steady this past week, remaining near all-time lows, according to the weekly rate survey from Freddie Mac. Fixed-rate mortgages were virtually unchanged, with both 30-and 15-year rates moving only a single basis point. In the case of 15-year loans, the average rate declined to 4.20 percent, a new all-time low, with 0.7 points...
Related Tweets from Twitter
|
cosmonet_news (????WorldNews) : ?WSJ? ???????????????1????????? - ???????????????1????????? http://ow.ly/18TDN4.. Updated : 2010-09-07T07:24:18Z | Reply | View Tweet |
|
|
cosmonet_news (????WorldNews) : ?WSJ? ??????????????????35???????? - ??????????????????35???????? http://ow.ly/18TDN3.. Updated : 2010-09-07T07:24:18Z | Reply | View Tweet |
|
|
cosmonet_news (????WorldNews) : ?WSJ? ?????????????????????????? - ?????????????????????????? http://ow.ly/18TDN5.. Updated : 2010-09-07T07:24:18Z | Reply | View Tweet |
|
v01ker (Volker Nowak) : #forex WSJ states, that a number of European Banks have undervalued risky assets in july stress test.. Updated : 2010-09-07T07:24:07Z | Reply | View Tweet |
|
PriCapLLC (Private Capital LLC) : WSJ: Barclays Taps Diamond as CEO http://dlvr.it/4qnwK #FREEEUROPE.. Updated : 2010-09-07T07:24:04Z | Reply | View Tweet |
Related News from Digg
Leave a comment
| Trackback
