Manhattan:The Lease Is Up, and Now, So Is the Rent
http://www.nytimes.com/2011/10/16/realestate/rents-in-manhattan-rebound-to-record-highs.html
Daniel Gross Why The Economy Looks Like Expansion, Feels Like Recession
the U.S. economy continues to grind its way, slowly, out of the deep hole of 2009. At present, the economic data we have points to a continuation of the current expansion, now in its 30th month, even if many people feel as if the recession never ended.
http://finance.yahoo.com/blogs/daniel-gross/why-economy-looks-expansion-feels-recession-152916110.html
streetlightblog Does the euro need Greece more than Greece needs the euro?
When Greece Hits its Limit
Given this, I would actually argue that the eurozone needs a Greek rescue more than Greece does. At some point soon -- if it hasn't already -- Greece is going to reach its limit regarding the austerity-punishment it is willing to accept. The Greek government will continue to miss deficit reduction goals set by the ECB and Germany, and will be unable to raise additional taxes or cut government spending further without the Greek people triggering the government's complete collapse. And given that this crisis is largely the result of forces beyond Greece's control, I wouldn't really blame them.
When that happens, Germany and France are going to have to think very, very carefully about their response. The immediate reaction of a lot of people at that point will be to throw Greece to the wolves. But if more sober heads prevail, the sort of reasoning I've outlined here suggests that it will be in the eurozone's own interest to swallow its pride and hand over whatever amount of money it takes to keep Greece in the system.
http://streetlightblog.blogspot.com/2011/10/does-euro-need-greece-more-than-greece.html
What haircut for Greece?
the haircut will be somewhere in between the 21% implied by the current proposals and the 40-50% required for solvency.
http://www.voxeu.org/index.php?q=node/7092
http://www.nytimes.com/2011/10/16/realestate/rents-in-manhattan-rebound-to-record-highs.html
Daniel Gross Why The Economy Looks Like Expansion, Feels Like Recession
the U.S. economy continues to grind its way, slowly, out of the deep hole of 2009. At present, the economic data we have points to a continuation of the current expansion, now in its 30th month, even if many people feel as if the recession never ended.
http://finance.yahoo.com/blogs/daniel-gross/why-economy-looks-expansion-feels-recession-152916110.html
streetlightblog Does the euro need Greece more than Greece needs the euro?
When Greece Hits its Limit
Given this, I would actually argue that the eurozone needs a Greek rescue more than Greece does. At some point soon -- if it hasn't already -- Greece is going to reach its limit regarding the austerity-punishment it is willing to accept. The Greek government will continue to miss deficit reduction goals set by the ECB and Germany, and will be unable to raise additional taxes or cut government spending further without the Greek people triggering the government's complete collapse. And given that this crisis is largely the result of forces beyond Greece's control, I wouldn't really blame them.When that happens, Germany and France are going to have to think very, very carefully about their response. The immediate reaction of a lot of people at that point will be to throw Greece to the wolves. But if more sober heads prevail, the sort of reasoning I've outlined here suggests that it will be in the eurozone's own interest to swallow its pride and hand over whatever amount of money it takes to keep Greece in the system.
http://streetlightblog.blogspot.com/2011/10/does-euro-need-greece-more-than-greece.html
What haircut for Greece?
the haircut will be somewhere in between the 21% implied by the current proposals and the 40-50% required for solvency.
http://www.voxeu.org/index.php?q=node/7092
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