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British EU Exit Could Hit GDP By 2.2%

1darkmatter1 Posted 23 Mar.  in #EU #Europe #Britian #Gdp #Macro
Britain leaving the European Union could result in a permanent loss of 2.2 percent of the country's gross domestic product by 2030, and the costs would not be offset solely by striking a free trade deal with its former partners.
The prospect of Brexit - Britain breaking away from Brussels - has moved up the political agenda in tandem with a surge in support for anti-EU party UK Independence Party (UKIP) in recent years.
The Conservative Party, which has long contained a wing sceptical about the …
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EURope opens lower with eyes on Greece

1darkmatter1 Posted 23 Mar.  in #EU #Euro #Europe #Eurozone #Greece #Germany
European equities opened lower on Monday as investors watch a meeting between the leaders of Greece and Germany, beginning a week that may prove decisive for Greece's future in the euro zone.
At last week's EU Summit, Greek PM Alexis Tsipras agreed to speed up his economic reform plans in order to unlock the long-withheld aid payments needed to keep his country afloat.
If a deal is not reached, Greece is likely to run out of cash by early next month.
The euro is -0.4% at $1.0776.
European stocks…
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Can Science Save Europe?

1darkmatter1 Posted 22 Mar.  in #Europe #Macro #Science
Europe’s current financial squeeze defies easy solutions. Self-inflicted austerity has met popular restlessness for more tangible measures to revive economic growth and create jobs. Protesters vividly express widespread frustration with deepening inequality, and condemnation of privileges of a global financial elite comes uncomfortably close to implicating government.
In previous times, such a situation would have been described as pre-revolutionary. In today’s world, the consequences may seem m…
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7 Comments
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driven avatar
driven 22 Mar.

Sure, but I think sometimes a society (or in this case a closely-knitted set of societies) over time accumulates a cumbersome set of cultural norms, political beliefs and social structures. While other societies have been able to look to the future and do what they had to do, we are mired in all of our baggage. This is why America has been able to leapfrog us, and parts of Asia are in the process of doing so. (I know Asian societies are also old, but they have more or less been able to start over politically and culturally). I'm not saying we're doomed, just that we need to acknowledge this.

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1darkmatter1 22 Mar.

Yes I completely agree with you Uri. Europe definitely needs to acknowledge these problems from the ground level. However, on the bright side, Europe is far from doomed. Comparing Europe with US, in the US, there is a huge gap between the super rich/middle class and the unemployed and the US has more no. of unemployed/uneducated people than the most of Europe combined, which is brilliant. Asia & South America are catching up, but are still very far behind. How much ever people cry over austerity and national debt, getting rid of them or increasing them both benefit the rich majorly.

driven avatar
driven 22 Mar.

I see what you're saying Alok. There is definitely something to build on. Great article!

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1darkmatter1 22 Mar.

Thanks for the discussion Uri! the whole point is to get to know everyones views and learn as much as we can! Looking forward to more discussions in the near future

driven avatar
driven 22 Mar.

Same here.

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