Athens has struggled to get its euro zone creditors to talk about debt relief. That is because it is not the most urgent issue facing Greece. A short-term cash crunch could trigger bankruptcy in the next few weeks. But if the negotiators resolve the immediate crisis – and the omens don’t look good - debt relief should come onto the table.
The Great Debate
For all the howls of rage from plutocrats like Tom Perkins and Ken Langone over possible tax rate increases, there has been relatively little public anger about the increasing wealth disparity in the United States — especially compared to the past.
Five years ago Monday, President Barack Obama signed the signature economic proposal of his presidency, saying that the passage of the $787 billion economic stimulus package heralded the “the beginning of the end” of the Great Recession.
One big part of the well-financed campaign for economic austerity is the contention that the public debt is like a national credit card. If we keep charging on it, the argument goes, we’ll get overwhelmed with interest costs, suffer a reduced standard of living and, pretty soon, go bankrupt.
By Don Tapscott
The opinions expressed are his own.
One thing pundits rarely do is review their own prognostications. A year ago I published “10 big themes for 2011” – related to how the digital revolution changes business and society. It’s helpful to review what actually occurred. Below are my projections and some 20-20 hindsight editorializing.
By Mohamed El-Erian
The opinions expressed are the author’s own.
It is safe to say that there is broad agreement on what is most desirable for solving the Irish crisis — namely a mix of domestic policies and external financing finely calibrated to enable the country to grow strongly, create jobs, stabilize the banks, and overcome large and mounting indebtedness.
– Jonathan Ford is a Reuters columnist. The views expressed are his own –
So, Goldman Sachs has a “Gordon Gekko feel to it” according to an executive at Brand Asset Consulting. In a survey of leading U.S. brands, the market research firm has reached the conclusion that the investment bank’s stature has been diminished in the eyes of the public by recent events.