THE POLISH SURPRISE As the financial crisis of 2008 and 2009 unfolded, countries across Europe were hit hard. A notable exception was Poland, whose economy grew by 1.5 percent during 2009, while every other economy in the European Union contracted. In 2010 and 2011, Poland achieved a growth rate of 3.9 and 3.8 percent, respectively, which were among the best in the EU. How did Poland achieve this? In 1989, Poland elected its first democratic government after more than four decades of Communist
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to repeat Japan’s prolonged period of stagnation and deflation: former BOJ Governor Masaaki Shirakawa (unclear, but Euro area recovery requires addressing the underlying problem of economic integration and not its symptom, deflation), GS Chief European Economist Huw Pill (low growth and even some deflation similar to Japan, in terms of outcome if not in terms of causes, are likely in the short term, but – also akin to Japan – a deflationary spiral is not), and LSE Professor Paul De Grauwe (there
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Euro-zone Debt Crisis Weighs on Germany Economy By Christopher Lawton Published August 13, 2012 Dow Jones Newswires The German economy likely escaped contraction in the second quarter, but hopes that Germany could be spared the effects of the sovereign debt crisis and keep the euro zone out of recession have probably been dashed, analysts say. Germany's preliminary second-quarter gross domestic product, the broadest measure of a country's economic output, likely rose by 0.2% on the quarter
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This forum focuses on the debt crisis in Greece (the 2010 EU/IMF “bailout” and subsequent austerity measures), as well as the various challenges that have been posed to the violence of neoliberal “adjustment.” The brief articles presented here have been solicited from observer-participants in the debates and protests, but also in the intimacies and banalities, defining everyday life in crisis Greece. The outlines of the crisis are widely known. Indeed, Greek society and its travails have never before
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Outlook for 2012 Highlights • 2011 proved an extremely volatile year, largely due to ongoing uncertainty surrounding the eurozone sovereign debt situation Growth has slowed throughout the year, with the International Monetary Fund (IMF) cutting its 2011 Gross Domestic Product (GDP) economic growth forecast for Western economies from 2.5% to 1.6% Developed economies – with the US a major exception - are engaged in austerity measures while the emerging world is looking to dampen its much stronger
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Please cite this note as: OECD (2014), “OECD forecasts during and after the financial crisis: A Post Mortem”, OECD Economics Department Policy Notes, No. 23 February 2014. OECD FORECASTS DURING AND AFTER THE FINANCIAL CRISIS: A POST MORTEM OECD Economics Department Policy Note no. 23 February 2014 This Policy Note is published on the responsibility of the Secretary-General of the OECD. The opinions expressed and arguments employed herein do not necessarily reflect the official views of the
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CONTEMPORARY AFRICAN POLITICS AND DEVELOPMENT “Africa’s Biggest Problems Stem From Its Present Leaders” (The Economist 13 May 2000). Evaluate This Statement With Reference To The African Crisis Of Underdevelopment. Illustrate Your Answer With Clear Examples. Africa has for the longest time been known as the troubled continent. It has become a public debate as to why Africa is so undeveloped and yet with its significant resources it could have been a major power house. Political corruption, lack
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influence of Greek economic crisis on China is divided into three parts. 一是对中国出口贸易的影响，它又可以分为三方面。 One is the impact on China's export trade, which also can be divided into three aspects. 1、希腊经济危机爆发后，欧盟内部各成员国开始实行紧缩的财政政策和货币政策以减少政府债务，但这样会抑制欧洲的消费市场，欧盟自2004年开始成为中国第一大贸易伙伴，双方贸易额在此后一直以高于中国其他贸易伙伴的速度而增长，欧盟消费需求减弱必然会影响中国的出口。 After the onset of the Greek economic crisis, the European Union member states began to tighten fiscal policy and monetary policy for reducing the government debt. However, it will curb the
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troductionPage 2 Financial affectsPage 4 Bank collapse/property exposurePage 4 Debt overhangsPage 4 Credit rejectionsPage 5 High Interest RatesPage 6 Delayed payment periodsPage 7 Employment GrowthPage 8 Black economyPage 8 Government & RegulationPage 9 Credit SchemePage 9 SME Credit Guarantee SchemePage 9 Code of ConductPage 9 Tax PolicyPage 10 Employment RegulationPage 11 Red Tape employment LawPage 11 Government Action PlanPage 11 Networking, Technology Development and InfrastructurePage
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Author: | Supervisor: | | | Department of …………………………… January 2014 Abstract How did the Subprime Crisis, a small problem of U.S. financial markets, affect the entire global banking system? The aim of this paper is to analyze the effect of the subprime crisis on the banking sector in Europe, with a close attention on the case of Spain. Spain is currently facing the worst crisis ever experienced in its financial history, so it would be interesting to analyze what is the real situation of
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