danspeerin: Austerity! (you know outside of killing people obvs!)
Nouriel Roubini : eurozone austerity will not fix the problem hedgejournals: Nouriel Roubini Famous Nouriel Roubini says that the absent policies which have to boost growth and the eurozone austerity will make things worse rather than fix the problem. According to Roubini, as he stated at a conference the International Monetary Fund, the peripheral countries in the… Read More: Nouriel Roubini : eurozone austerity will not fix the problem

Nouriel Roubini : eurozone austerity will not fix the problem

hedgejournals:

Nouriel Roubini Famous Nouriel Roubini says that the absent policies which have to boost growth and the eurozone austerity will make things worse rather than fix the problem. According to Roubini, as he stated at a conference the International Monetary Fund, the peripheral countries in the…

Read More: Nouriel Roubini : eurozone austerity will not fix the problem

emergentfutures: This is actually the scariest chart about Europe A new analysis by three economists at BofA Merrill Lynch Global Research finds that Europe’s major economies could be doomed to sluggish growth for many years to come Full Story: Washington Post
Mortgage arrears - The amount of back pay you owe your mortgage lender for failing to meet your mortgage requirements
rationworld: This graph  shows the account balance (exports minus imports) for several European states. Many have shown major improvement. According to this article in Ireland, Spain, and Portugal, the gains have been due to an increase in exports. However, somewhat contrary to the Bloomberg article that I linked in the last post, the author, Guntram Wolff, says that Greece’s adjustment is almost solely the result of fewer imports due to declining consumption.  “Is External Adjustment Working in the Euro Area?” Guntram Wolff, Bruegel Think Tank.
vulgartrader: Courtesy of Bloomberg and ZeroHedge, we have this chart which maps the European Commission’s estimates for which countries are at risk for stagflation from now until 2014. The lower the score, the greater the risk. At the top of the list is Cyprus, followed by all the usual players. In a distant second is by Portrugal, followed by Italy, Spain and Greece.
casuist: Ruins. Spain’s economy will sink deeper into recession this year, the Bank of Spain said on Tuesday, sending a stark message to the government as it prepares to revise its own growth forecast. In its annual update of economic forecasts, the central bank said it saw Spain’s economy shrinking by 1.5 percent in 2013 following a 1.4 percent contraction last year as austerity continues to exacerbate the effects of a burst property bubble. The central bank’s new estimate is well below the official forecast for a 0.5 percent contraction in GDP, although the government is widely expected to revise the 2013 figure downwards in April. (via Contrary To Prior Lies, Spanish 2013 Economic Contraction Even Worse Than In 2012 | Zero Hedge)
teachersworldwide: It is hard to picture the scene in 21st-century Europe, but as debt-ridden Portugal heads into a new year of economic crisis, schools are stepping in to feed children who would otherwise go hungry at home. One school in a poor district of north Lisbon stayed open over the Christmas break to serve up lunch to around 40 pupils, aged four to 18, out of its 800 enrolled students. “Otherwise the children risked going hungry for two weeks,” explained its headmaster, who preferred to remain unnamed. (via School throws safety net to hungry Portuguese kids | ArabNews) Good to see.
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