GIIPS labour costs not moving in the "competitive" direction

by Rebecca Wilder GIIPS labour costs not moving in the “competitive” directionThe GIIPS (Greece, Italy, Ireland, Portugal, and Spain) hope: exports. Fiscal austerity crimps the saving of the private sector. And provided the governments make good their plans to put on the fiscal straight-jacket, there’s no other impetus for growth except foreign demand. Financial crises […]