One of Europe's problems is the lack of coordination that has built into the EU as a result of the neoliberal takeover. Fiscal policy is made by member states; the EU has too little funds to count. Therefore fiscal policy is uncoordinated. Monetary policy is of course independent of everyone except the bankers, though not I think as explicitly as in the US. Moreover, monetary policy has more or less played out, though I suppose interest rates could drop a bit still. So the Europeans have basically screwed themselves with the right-wing ideology they borrowed from Chicago.
>I have to say Denmark is in a better position (though they have been >stretched in protecting the Danish kroner). The economy is somewhat soft, >it has been since last early year as reflected by the real estate market. >Copenhagen had its own real estate bubble as its flexisecure labor market >combined with labor shortages kept the economy humming for a quite some >time. The dampening of the economy, not related to the subprime crisis, has >slowed growth. But I have not heard of major layoffs though recruiting has >slowed down. Bank lending has tightened, as I found out since we are in the >market. The irony is that it is a good time to buy but my US savings, >Copenhagen prices, and a small bank loan nullifies the opportunity >considerably! > >Cheers, Anthony > > >On Sun, Jan 25, 2009 at 5:56 AM, Joanna <[email protected]> wrote: > >> Thanks for the article Louis. I have to admit that the one thing that has >> surprised me in all this is how awful the situation is in Europe. Don't know >> why, but I thought they were smarter than that. >> >> I think what fooled me was their welfare state structures, which, when you >> think of it, were legacies rather then auguries. >> >> Joanna >> _______________________________________________ >> pen-l mailing list >> [email protected] >> https://lists.csuchico.edu/mailman/listinfo/pen-l >> > > > >-- >xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx >Anthony P. D'Costa >Professor of Indian Studies >Asia Research Centre >Copenhagen Business School >Porcelænshaven 24, 3 >DK-2000 Frederiksberg, Denmark >Email:[email protected] >Ph: +45 3815 2572 >Fax: +45 3815 2500 >PhD in INDIAN STUDIES WEBSITE >http://frontpage.cbs.dk/jobs/stil.pl?func=details&id=1147 >http://uk.cbs.dk/arc >www.cbs.dk/india >xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx > > _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
