Anthony, could you tell us a little bit more about Denmark? It seems to
have a strange blend of right wing and social democratic economic
policies, as exemplified by the flexisecure labor market
Anthony D'Costa wrote:
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!
--
Michael Perelman
Economics Department
California State University
Chico, CA
95929
530 898 5321
fax 530 898 5901
http://michaelperelman.wordpress.com
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