by Rebecca Wilder Unfounded Obsession With the Greek Minimum Wage The Greek minimum wage is apparently a point of contention between the Troika (ECB/EU/IMF) and the Greek government. The NY Times cites competitiveness gains as a rationale for the minimum wage cut: The goal of any pay cuts would be to help make Greek workers, […]

by Rebecca Wilder What do you want to wager that the IMF’s a bit overly optimistic on the outlook for Greek nominal GDP? Monday, June 27, 2011 Newsneconomics These jokers have no idea what they’re doing. The IMF has overshot the ex-post path of Greek nominal GDP in each and every one of their World […]

There is growing discord between the ECB and national politicians over a ‘soft restructuring’ of Greek debt. The ECB doesn’t want it, while national policy makers grapple over it. And just in case you were wondering what a soft restructuring actually is, Joseph Cotterill at FT Alphaville explains. Beyond the gobbledygook restructuring talk is a […]

Over the last couple of months, a string of events made policy makers and investors alike say, what? Greece must raise capital next year and meet a 7.5% deficit target this year? Yes, they do, unless circumstances change. It’s near impossible to bet successfully on what Euro area policy makers are going to do, so […]

Just look at Tracy Alloway’s imagery at FT Alphaville, and you’ll know what’s expected: an imminent Greek default. I still argue no, although European policy tactics are quite enigmatic and their next move is really anyone’s guess. Alas, here’s mine. Assuming that Greece does not secede from the Euro area, I give you three reasons […]

I feel like I am living in a “Choose Your Own Adventure” book. What global shock comes next? The air of uncertainty remains. This morning an imminent (but questionably so) bailout is across the news wires. From the WSJ: Germany is considering a plan with its European Union partners to offer Greece and other troubled […]