What makes them PIIGS? | 52 comments (52 topical, editorial, 0 hidden)

Re: What makes them PIIGS? (4.00 / 5)

Shorter Dublin (Washington, London, Athens...) Consensus

Markets: Help! We're broke!

Governments: Here's a bailout...

Markets: Oooh - just look at all the new public debt. We're not having that. You might default on us.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Apr 12th, 2010 at 07:40:00 AM EST
[ Parent ]

Re: What makes them PIIGS? (4.00 / 4)

Which is a delicious irony given that it was market driven private entities which threatened failure and (alledgedly) necessitated bail-out in the first place.

I cannot help feeling that "the market" is looking on in shopcked bemusement that we are bailing out the banks in the first place. "We can't trust people who are that stupid now can we"?

notes from no w here

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Mon Apr 12th, 2010 at 07:50:18 AM EST
[ Parent ]

Re: What makes them PIIGS? (none / 1)

Coming from Complexity/Emergence disciplines, I'd usually dismiss such inferences at face value, the market being an emergent environment by excellence.

But when it is ok to run 50% deficits at one side of the Atlantic but it is not ok to run 12% deficits at the other end, I must concede that something's wrong...

luis_de_sousa@mastodon.social

by Luis de Sousa (luis[dot]de[dot]sousa[at]protonmail[dot]ch) on Mon Apr 12th, 2010 at 04:24:05 PM EST
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Re: What makes them PIIGS? (none / 1)

Who is running a current budget deficit equivalent to 50% of GDP?

notes from no w here

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Mon Apr 12th, 2010 at 04:54:33 PM EST
[ Parent ]

Re: What makes them PIIGS? (none / 1)

12% deficits refers to annual deficit, no?

50% refers to total debt to GDP.

by Upstate NY on Mon Apr 12th, 2010 at 09:11:29 PM EST
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What makes them PIIGS? | 52 comments (52 topical, 0 editorial, 0 hidden)