Spiegel is *not* happy about Greece

-
Full article here...
... even if there are significantly lower interest rates combined with very optimistic assumptions about the economy, the surplus would have to amount to more than 10 percent of GDP -- a value that, as Klodt notes, not a single industrialized country has ever achieved in recent decades.
 ... IMF economists concluded that emerging economies could support maximum debt levels of 63 to 78 percent of GDP in the long term. "... the IMF people are realizing that Greece, in structural terms, should really be classified as an emerging economy," says a senior official at ... the Bundesbank.
 "After all, it doesn't make sense to demand debt repayments that can never be made."

Comments

Post a Comment

Popular posts from this blog

Cannonball Tree!

-
Image
Spotted this one just outside the Ravindra Kalakshetra in Bangalore .  Its called the Cannonball Tree , but is - technically (i.e., in Latin, if thats your metier) - Couroupita Guianensis , or ನಾಗಲಿಂಗ ಪುಷ್ಪಾ  in Kannada. The fruits look like Cannonballs (well, d-uh), and the flowers are really quite amazing, and pretty ludicrously distinctive...
Read more

Erlang, Binaries, and Garbage Collection (Sigh)

-
Image
The nice thing about garbage-collection is that it is makes memory management absolutely transparent to you Of course, the above is true right up to the point when it stops being transparent, at which point it does a phase change from nice to clusterf**k of biblical proportions .  There are entire posts, books, and suicide notes that have been written about this, and I have no great desire to add to them, save with the minor comment that paranoia about garbage-collection is still justified , albeit only in the edge-cases for most people. That said, I'll give you that Erlang GC is in many ways much, much better positioned in this regard than, oh, Java, but it still rears up and bites you in the butt when you least expect it. ( More information about Erlang's GC vis-a-vis Java here , and Jesper's truly excellent description of Erlang's GC here ).  A story from the past should serve to illustrate this. Once upon a time, in a magical land far far away - well, Her...
Read more