My colleague Dinah Walker has just published charts comparing the US recovery to its predecessors, which have been updated to include today’s revised third quarter data. Two points:
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LinkedInWe finally have a financing deal for Greece. For those who haven’t been following the blow-by-blow, a summary is below, or you can read the official announcement.
A transparent framework for official sector involvement would be a significant step toward resolving the European debt crisis (Sivi Steys/courtesy Flickr).
The current debate over how to finance Greece has again put the spotlight on the unsustainable buildup of sovereign debt in the periphery and led to calls for a comprehensive strategy for official sector involvement (OSI). Until now, creditor countries have resisted OSI, establishing “red lines” that lead them to ad hoc and temporary efforts to reduce debt levels and fill financing gaps. These efforts buy time, but don’t address fundamental concerns about debt sustainability, build market confidence, or maintain public support for painful austerity. Read more »
My intent in starting this blog is to look at how macroeconomic policies are set in a complex and interdependent global economy, and how market forces constrain or reinforce those policies. We will look at policies in both industrial and emerging market economies, though in the current environment we will pay special attention to the policy challenges and key risks to an already fragile outlook coming from Europe and the United States.
Macro and Markets examines the forces influencing the global economy, macroeconomic policies, and financial markets.
