Tanto per chiarire / Just to make it clear


Tanto per chiarire / Just to make it clear

Più che un blog questo è un diario di appunti, dove spesso mi segno e rilancio articoli ed opinion interessanti trovate in giro per la rete.

Cerco sempre di citare e linkare correttamente la fonte originale. Se comunque trovaste roba vostra che volete che tolga o corregga, vi prego di segnalarmelo a Stef@cutillo.eu
This is a notebook -not really a blog- where I often relaunch interesting stuff I find roaming on the net.
I always try to link correctly the original sources. If anyway you find your stuff and want me to remove or correct it, please let me know at Stef@cutillo.eu


Questo blog, ovviamente, non rappresenta una testata giornalistica in quanto viene aggiornato senza alcuna periodicità e con molta poca coerenza. Non può pertanto considerarsi un prodotto editoriale ai sensi della legge n. 62 del 7.03.2001 e seguenti.
This is just a silly legal note to state that this (SURPRISE! SURPRISE!)
is not a newspaper or a news publication whatsoever.

giovedì 1 dicembre 2011

Iceland wins, in the end

Source: http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100013462/iceland-wins-in-the-end/# 
Iceland wins in the end
By Last updated: November 28th, 2011

The OECD has come very close to predicting a depression for Europe unless EU leaders conjure up a lender-of-last resort very quickly, and somehow manage to make the world believe that the EFSF bail-out fund really exists.
Even if disaster is avoided, the eurozone growth forecast is dreadful. Italy, Portugal, Greece will all contract through 2012, while Spain, France, Netherlands, and Germany will bounce along the bottom.
Unemployment will reach 18.5pc in Greece, 22.9pc in Spain, 14.1pc in Ireland, 13.8pc in Portugal.
Yet Iceland stands out, with 2.4pc growth and unemployment tumbling to 6.1. Well, well.
Here is the box from the OECD.

Iceland's policy of drastic devaluation with capital controls has not proved to be the disaster that so many foretold. Its refusal to accept the full burden of private bank losses has not turned the country into leper-land.
The nation has held its social fabric together. Had Iceland been in the eurozone, it would have been forced to pursue the same reactionary polices of "internal devaluation" and debt deflation being inflicted today on the mass ranks of unemployed across the arc of depression.
Sorry I could not resist posting this. Shame on me.

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