{"id":3848,"date":"2012-03-17T23:32:05","date_gmt":"2012-03-18T03:32:05","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=3848"},"modified":"2012-03-17T23:32:05","modified_gmt":"2012-03-18T03:32:05","slug":"not-out-of-the-woods-yet-despite-progress-euro-crisis-is-far-from-over-spiegel-online-news-international","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/17\/not-out-of-the-woods-yet-despite-progress-euro-crisis-is-far-from-over-spiegel-online-news-international\/","title":{"rendered":"Not Out of The Woods Yet: Despite Progress, Euro Crisis Is Far From Over – SPIEGEL ONLINE"},"content":{"rendered":"

Christian Rickens:<\/strong> So has Greece been rescued and financial markets been tamed? Is the euro crisis a thing of the past? Unfortunately not. With their successes in the last few days, euro-zone politicians have done little more than bought themselves time. They must use this window to brace themselves for the next wave of the euro crisis which is about to crash down on Europe.<\/p>\n

It’s already clear that the Greek economy can’t survive with a government debt to GDP ratio that will — at best — still be at 117 percent in 2020, especially given the record pace at which the country’s GDP is contracting. There is still no coherent strategy for making Greece competitive again inside the euro zone, or for raising the capital for the huge investments needed — let alone for the wholesale revamp of the country’s entire public administration.<\/p>\n

And so Greece is likely to report the next set of disappointing budget figures in a few months, and the wrangling over a new debt cut and a new rescue package will start shortly afterwards……<\/p>\n

The other euro-zone governments have at most a few more months, perhaps only a few weeks, before the situation in Greece worsens again……That means that Portugal, Spain and Italy, the three other problem countries in the south of the euro zone, must perform the magic trick of stimulating growth while reducing their budget deficits. That can only succeed with a lot of pragmatism — austerity without growth is as pointless as growth without austerity.<\/p>\n

via Not Out of The Woods Yet: Despite Progress, Euro Crisis Is Far From Over – SPIEGEL ONLINE – News – International<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Christian Rickens: So has Greece been rescued and financial markets been tamed? Is the euro crisis a thing of the past? Unfortunately not. With their successes in the last few days, euro-zone politicians have done little more than bought themselves time. They must use this window to brace themselves for the next wave of the … <\/p>\n

Continue reading “Not Out of The Woods Yet: Despite Progress, Euro Crisis Is Far From Over – SPIEGEL ONLINE”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33],"tags":[962,1295,1614,1919,2720,3194],"class_list":["post-3848","post","type-post","status-publish","format-standard","hentry","category-uk-europe-countries-regions","tag-debt-crisis","tag-euro-zone","tag-greece","tag-italy","tag-portugal","tag-spain"],"yoast_head":"\nNot Out of The Woods Yet: Despite Progress, Euro Crisis Is Far From Over - SPIEGEL ONLINE - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Not Out of The Woods Yet: Despite Progress, Euro Crisis Is Far From Over - SPIEGEL ONLINE - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Christian Rickens: So has Greece been rescued and financial markets been tamed? Is the euro crisis a thing of the past? Unfortunately not. With their successes in the last few days, euro-zone politicians have done little more than bought themselves time. 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He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-104","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":2232,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/20\/debt-crisis-contagion-the-euro-zones-deadly-domino-effect-spiegel-online-news-international\/","url_meta":{"origin":3848,"position":0},"title":"Debt Crisis Contagion: The Euro Zone’s Deadly Domino Effect – SPIEGEL ONLINE – News – International","author":"ColinTwiggs","date":"November 20, 2011","format":false,"excerpt":"The main problem of a Greek exit from the euro zone is not necessarily the direct impact on banks. 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And the underlying problem has been that there was a massive bubble generated in the world as a whole by monetary\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1587,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/26\/euro-zone-talks-hit-roadblocks-wsj-com\/","url_meta":{"origin":3848,"position":4},"title":"Euro-Zone Talks Hit Roadblocks – WSJ.com","author":"ColinTwiggs","date":"October 26, 2011","format":false,"excerpt":"BRUSSELS\u2014Deep divisions between euro-zone governments and private banks over how much to cut Greece's private debts threatened to undermine efforts by European leaders to agree to a broad package at a Brussels summit Wednesday night aimed at stemming the Continent's intensifying debt crisis. ....Governments, led by Germany, have been seeking\u2026","rel":"","context":"In "UK & Europe"","block_context":{"text":"UK & Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2293,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/23\/fate-of-euro-may-hinge-on-italian-savers-nytimes-com\/","url_meta":{"origin":3848,"position":5},"title":"Fate of Euro May Hinge on Italian Savers – NYTimes.com","author":"ColinTwiggs","date":"November 23, 2011","format":false,"excerpt":"Compared with debt-saddled Greece, Spain and Ireland, Italy is much less reliant on foreign investors to finance its debt. 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