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Contents contributed and discussions participated by Gene Ellis

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Gene Ellis

The euro crisis: The most important number | The Economist - 0 views

www.economist.com/...euro-crisis-1

euro crisis number economist

shared by Gene Ellis on 01 Dec 12 - No Cached
  • Gene Ellis on 01 Dec 12
     
    Why decreasing unemployment is the criterion...
Gene Ellis

Brazil Registers Anemic Growth in 3rd Quarter, Surprising Economists - NYTimes.com - 0 views

www.nytimes.com/...arter-shocking-economists.html

brazil growth low

shared by Gene Ellis on 01 Dec 12 - No Cached
  • including its byzantine bureaucracy and woeful public schools.
  • Gene Ellis on 01 Dec 12
     
    Brazil low growth includes structural dilemmas, including byzantine bureaucracy and woeful public schools
Gene Ellis

South Africa Corruption Fuels Battle for Political Spoils - NYTimes.com - 0 views

www.nytimes.com/...ttle-for-political-spoils.html

south africa corruption fuels battle

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  • Gene Ellis on 01 Dec 12
     
    Global Ec. Relations - difficulties of rent-seeking in many societies
Gene Ellis

The Matchmaker - The Boston Globe - 0 views

www.boston.com/...the_matchmaker

shared by Gene Ellis on 29 Nov 12 - No Cached
  • Gene Ellis on 29 Nov 12
     
    Great piece on Nobel Prize winner on Al Roth and medical 'match-making.'  Use in Global Economic Relations.'
Gene Ellis

Euro zone, IMF agree on Greece aid deal - The Washington Post - 0 views

www.washingtonpost.com/...2-b01f-5f55b193f58f_story.html

euro zone imf greece aid deal washington post

shared by Gene Ellis on 28 Nov 12 - No Cached
  • To reduce Greece’s debt pile, ministers agreed to cut the interest rate on official loans, extend their maturity by 15 years to 30 years, and grant Athens a 10-year interest repayment deferral.
  • They promised to hand back $14 billion in profits accruing to their national central banks from European Central Bank purchases of discounted Greek government bonds in the secondary market.
  • They also agreed to finance Greece to buy back its own bonds from private investors at what officials said was a target cost of about 35 cents in the euro.
  • ...4 more annotations...
  • Draghi
  • a break from the era of missed targets and loose implementation towards a new paradigm of steadfast reform momentum,
  • Greece, where the euro zone’s debt crisis erupted in late 2009, is the currency area’s most heavily indebted country, despite a big “haircut” this year on privately held bonds.
  • The key question remains whether Greek debt can become sustainable without euro-zone governments having to write off some of the loans they have made to Athens.
Gene Ellis

BBC News - What could happen next if Greece leaves the eurozone? - 0 views

www.bbc.co.uk/...business-18074674

economics Greece

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  • Gene Ellis on 17 Nov 12
     
    NICE GRAPHIC OF ALTERNATIVES WITH NOTES...
Gene Ellis

Europe Eyes Trade Pact With Obama - NYTimes.com - 0 views

rendezvous.blogs.nytimes.com/...ope-eyes-trade-pact-with-obama

europe eyes trade pact obama

shared by Gene Ellis on 08 Nov 12 - No Cached
  • “A car tested for safety in the United States could be sold in Europe without further tests, while a drug deemed safe by Brussels would not have to be approved as well by the U.S. government,” according to a Reuters report that cited examples of the benefits of a free-trade agreement.
Gene Ellis

Euro Zone Interest Rate Remains Unchanged - NYTimes.com - 0 views

www.nytimes.com/...st-rate-remains-unchanged.html

euro zone interest interest rate rate remains nytimes nytimes com com

shared by Gene Ellis on 08 Nov 12 - No Cached
  • But some analysts warn that the calm could prove temporary because the underlying causes of the crisis remain: too much debt and poorly performing national economies. “The E.C.B. has been very active since Mr. Draghi has been president, and this has been a major factor contributing to stabilize financial markets and thereby avoid much worse outcomes for the euro zone,” Marie Diron, an economist who advises the consulting firm Ernst & Young, said in a note.
  • “But the E.C.B. is not the sole actor and cannot save the euro on its own,” Ms. Diron said. “Ultimately the sustainability of the euro zone is down to structural changes at the country and European levels that are beyond the E.C.B.’s remit.”
  • Banks in the euro zone can borrow unlimited funds from the E.C.B. at the benchmark rate, provided they post collateral. But banks are not obligated to pass that rate on to their customers and might not do so in countries like Spain where banks are already struggling with large numbers of bad loans.
  • ...1 more annotation...
  • Meanwhile, interest rates may be too low for countries like Germany, helping to fuel a rise in real estate prices, Dirk Schumacher, an economist at Goldman Sachs in Frankfurt, said. “Cutting rates in the current environment of segmented markets is likely to boost growth in those places where it is needed least,” he wrote in a note to clients before the rate decision.
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