Iceland's Economic Recovery not Caused by Austerity


by Dirk Ehnts, Econoblog101

The ongoing economic recovery in Iceland started already in 2010. The economic crisis (= recession), as you can see in the chart below, started in about 2007. Only 3 years and a loss of GDP of roughly 10% later, the economy started growing again. Look, however, at the amount outstanding of domestic debt securities for general government issuers. It has risen very fast in the crisis, probably because of falling tax income.


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What We Read Today 01 April 2015

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).


Every day most of this column ("What We Read Today") is available only to GEI members.

To become a GEI Member simply subscribe to our FREE daily newsletter.

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 more features, analysis, studies, and news published in the last week

State of the UK: The Great European Question

by Michael Emerson, The Conversation

The UK"s place in Europe is one of the most divisive issues in the 2015 general election campaign. The Conservative Party and UKIP want an in/out referendum, Labour does not and the Liberal Democrats certainly recognise it as an important matter, even if leader Nick Clegg is refusing to come down on either side of the debate.


Infographic Of The Day: Causes And Treatments For Headache In Children

Is your child often complaining of headaches?

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Video of the Day:

Ever wondered why you're left handed? Or confused by why we yawn? Take a look at the human body's biggest mysteries with All Time 10s.

video of day picture

FOREX NEWS by DailyForex

Market Uncertainty Sends Dollar Down

The US Dollar edged lower in European trading after a disappointing Tankan survey, a report which shows business sentiment in Japan, which paradoxically gave the safe haven Japanese Yen a boost even as it weighed on Japanese equities.

UK Growth Revised Up

The assessments of quarterly growth are always subject to revision since the estimate of GDP is based on a subset of the data.

Greece Fails to Reach Deal

Greece failed to reach an initial deal with the European Union and the IMF to unlock aid after the creditors dismissed a package of reforms from Athens as ideas rather than a concrete plan, officials said on Tuesday.

Euro Poised for New Quarterly Record

As the end of this quarter draws to a close, the common currency Euro is poised to record its single worst quarter ever.

Confidence in Euro-zone

Confidence in the euro zone’s economy rose for a fourth straight month in March to its highest since July 2011, a European Commission survey showed on Monday, suggesting the weak euro and lower oil prices are spurring the recovery.
 more investing, markets, precious metals & forex

Shanghai Rally: Trend or Blip?

 more opinion

Germany Wants to Bail Out Its Austerity Measures - Not Greece

by Peter Bloom, The Conversation

After several months of tense and often antagonistic negotiations, Greece and its creditors appear to be at a stalemate. In order to receive a further bail-out funds, the Syriza government has proposed a set of reforms that in the view of Germany, the ECB and the IMF "don"t make the grade".


The Underdog That Outperformed All Global Stock Markets In The First Quarter: A Buy Or A Bubble?

by Trang Ho

This article was published previously at Forbes.

China reigned supreme over all stock markets worldwide in the first quarter, despite expectations for slowing economic growth and a weakening real estate market. The Shanghai Composite Index soared to its highest level since April 2008 BUT remains a far cry from its October 2007 all-time high, suggesting there"s plenty more room to run. Small and mid-cap stocks are relatively overvalued, but large-caps are a bargain compared to the other developed markets.



 USA economy at a glance (boxed items are updates in last 7 days)

Construction Spending Growth Mixed in February 2015. Private Sector Construction Improved.

Written by Steven Hansen

The headlines say construction spending declined this month - the data is volatile and backward revisions distort the picture. However, the rate of growth looking at the unadjusted rolling averages improved this month following a persistent decline in the rate of growth for the previous 12 months. This month private construction improved which has been the drag on new construction growth.

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