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24 February 2012

Is Europe Out of the Woods?

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The Print Edition of the Economists argues that there are signs of recovery in Europe, but it is too early to celebrate.

http://www.economist.com/node/21548259

I have argued for a long time that this is more a political crisis than an economic crisis. In this sense, the Economist argues that this week´s events in Greece also give contradictory messages: On one hand, "One lesson of this week is that, faced with market meltdown, politicians from both debtors and creditors will compromise". On the other hand, signs of progress may lower the incentives for reform: "Will a reduction of market pressure slow weaker countries’ long and painful march to reform? Will stronger ones ignore the design flaws that make the single currency needlessly unstable?"

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INTRODUCTORY NOTE

Starting January 30, 2012, I decided to put the random (economic) thoughts that I was posting on Facebook, in a blog. In this site you will be able to read all Facebook notes going back to 2008, (without my Friend’s comments, unfortunately), but we will only maintain the new thoughts. If you want to check out the old comments, they are still posted on Facebook. If you want to comment on them, you have two options (1) Become a Facebook Subscriber. Since all the posts will also appear in Facebook, you will be able to comment there. (2) Comment on Twitter, as each post will also be announced in Twitter.

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