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Will the credit expansion continue?
I have previously shared my growth estimates for 2010. If the assumptions in my basis scenario hold, growth rate in 2010 was expected to be between 3.8 percent and 4.9…
Did you use to like your school apron?
Honestly, I do not have any memories related to my elementary school apron-good or bad. Do you? 'We used to wear it to school', that's all I remember. I do not recall…
When will Greece form a debt swap?
Didn't we already know that the public finance was problematic in Greece? We did. But why is it that this piece of information didn't create a chaos until just now? Why…
Only an equation?
I believe that the recent developments in the European Union should have thought us that fiscal rule is not only an equation. In the Eurozone member states cannot exceed…
Exchange rate and exports in the last two crises
Many economists argue that the problems facing Greece can no longer be solved via fiscal discipline and foreign credits. The underlying justification of such views is…
Exchange rate and GDP in the last two crises
I am going back to the "in the last two crises" commentary series. Today's topic is the exchange rate movements. I want to analyze how much the Turkish lira depreciated…
Why couldn’t Ivan Prado enter Israel?
This was featured on the Israeli Haaretz newspaper, last week. According to this, Spanish Ivan Prado was intervened at the Ben Gurion Airport and was denied entry…
The timing of the fiscal rule is quite correct
A spectre is haunting Europe: the spectre of the debt crisis. Despite the trillion dollar bail-out package which is not known how to make operational and the functions…
Dilemma of the President of ECB
Would you like to be in the shoes of the President of the European Central Bank (ECB) Mr. Trichet? I believe the answer of those who follow the recent developments would…
Is this the first step of the Greece’s ‘Brady Plan’?
A serious step is eventually taken to prevent the crisis in Greece to spread all around the Eurozone. The first package of €110 billion was not enough. Now a second…
Great EU 'leaders'
European Union (EU) is suffering from a severe leadership problem. They are doing everything contained in the 'not to do list for a financial crisis'. They still could…
Which EU?
For a while how I have been writing a series of commentaries with the theme 'in the last two crises'. I will continue with this series. But I am not sure what the 'last…