• EcoTV WEEK- Greece, how is the PSI going ?

    A brief update on the world's major economic issues

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  • EcoWEEK

    Overview: The Greek debt crisis and private sector involvement

    Focus1: Germany: surpluses remain substantial
    Germany's current-account surplus is likely to remain very large in the medium term...

    Focus 2: Hungary: a new bout of fever
    Hungary's credit rating has been downgraded to speculative grade by the three main ratings agencies, accelerating the fall in value of the forint and increasing the government's cost of borrowing.

    The Greek debt crisis and private sector involvement
    13 /01/2012

  • Conjoncture

    Irish banks: a long convalescence ahead
    16/1/12 - Laurent Nahmias

    Irish banks were slammed by the financial crisis in 2009. National responses and above all the roll out of the €85bn EU-IMF bailout plan helped prevent the Irish banking system from collapsing. This enormous rescue package (55% of GDP) was largely devoted to the recapitalisation of banks (€35bn) and helped ease the country's liquidity crunch. We estimate Ireland's 2011 GDP growth at 1.7%, which places the country in a relatively less uncomfortable situation than Greece and Portugal, the two other eurozone members benefiting from international aid.

    Irish banks: a long convalescence ahead

  • 2011 in review; outlook for 2012
    16/1/12 - Philippe d'Arvisenet

    World growth slowed sharply last year to 3.8% from 4.9% in 2010. Fierce pressures shaped the economic environment. The tsunami in Japan disrupted supply chains in numerous countries, notably in the automobile industry. Political turmoil in the Middle East and North Africa drove up pressures on oil prices. Numerous uncertainties over economic prospects and policy rattled confidence in the United States while the European sovereign debt crisis festered and spread.

    2011 in review; outlook for 2012

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