Special Report on
Personal Finance Lessons From PIIGS
Personal Finance Lessons From PIIGS - Trends
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Picture a country with thousands of islands settled in a beautiful blue sea that features miles of topless beaches where guys once drank wine and popped olives without a care in the world. Life was good until the global recession hit. Now they’re brawling in the streets because their government is threatening to freeze their salaries. That country would be Greece and they’re one of the PIIGS you’ve been hearing about in the news lately. The acronym PIIGS stands for five European nations: Portugal, Italy, Ireland, Greece, and Spain. These nations followed stupid economic policies and are facing a crisis that’s having a bad effect ...
The Maginot Line, named after French Minister of Defense André Maginot, was a line of defenses which France constructed along its borders with Germany and Italy after suffering appalling damage and casualties during World War I. The French thought they were now protected from a repeat, and believed the defenses impenetrable. Chatting to a number of German participants at last week’s Institute for New Economic Thinking (INET) conference, we couldn’t help getting a sense of the economic parallel in regard to Germany’s deep resistance to greater fiscal expansion as means of dealing with the ... Read More
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PERSONAL FINANCE LESSONS FROM PIIGS
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