jueves, 4 de marzo de 2010

The Future, or why Greece MUST be worried

En ingles, y por que no? si el post, afanado en parte de Economist parece la guia para Grecia (y quizas España) de lo de aca, bue, es el mundo virtual, como siempre lo fue

el titulo, dos parrafos y el link

Baltic thaw, Aegean freeze
Latvia’s economic free fall has halted, and it may now do better than Greece

Es solo el comienzo

DOOM-MONGERS are licking their wounds. For two years bankers have said that a Latvian devaluation was inevitable. The struggle to save the lat’s peg to the euro was bound to end in tears. And a panic in Latvia could topple the wobbly economies of Estonia and Lithuania, which have similar exchange-rate regimes, with repercussions extending across eastern Europe and to Scandinavian banks that lent recklessly in the Baltics.

Yet despite a fall in GDP last year of 17.5%, Latvia seems to have achieved something many thought impossible: an internal devaluation. This meant regaining competitiveness not by currency depreciation but by deep cuts in wages and public spending. In a recent discussion of Greece, Jörg Asmussen, a German minister, praised Latvia for its self-discipline.

y el final, es mejor aun

Even so, Latvia looks good when compared with Greece. It did not lie about its public finances or use accounting tricks. Strikes have been scanty. Protests are fought in the courts, not the streets. Both Greece and Latvia have had hard knocks, but Greeks became used to a good life that they are loth to give up. Latvians remain glad just to be on the map.



1 comentario:

manolo dijo...

Muy bueno.
Un abrazo