Update: Greece, Eurozone and the IMF

by Elliott Morss Earlier, I noted there were two parts to IMF Stand-By Program for Greece: austerity and increasing its competitiveness. However, by the beginning of 2012, the IMF had concluded that the austerity part of its plan for Greece had failed. Why? Because: the austerity measures were so extreme that initial efforts to implement …

Comparing U.S. and Euro Crises

by Elliott Morss Introduction The best weather forecast comes from watching the trends: if the chance of rain increases as you get closer to the day of interest, it will probably rain….  So I start by looking at what has been happening to IMF, OECD, and World Bank predictions for economic growth for the next …