Word: economice
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Former Vice President Laura Chinchilla won a Feb. 7 vote to become the first woman elected to lead Costa Rica. A protégé of the outgoing President, Nobel Peace Prize winner Oscar Arias, Chinchilla is expected to continue Arias' economic policies and his efforts as peace broker in the region...
After a decade of overspending, Greece has fallen into a debt crisis. The country--which along with Portugal, Ireland, Italy and Spain is a member of the so-called PIIGS group of troubled European economies--is carrying a deficit close to 13% of GDP, more than four times the E.U...
In 1973, 100 Greek Drachmas would get you $3.33. By May 2000, that was down to 27˘. That's the way the currency crumbles in a smallish, less than rich nation beset by government budget deficits, inflation and a spotty record of economic policymaking. Convincing foreign investors to buy your...
Greece suddenly found itself with a solid, reliable currency. Its government and businesses could borrow at lower interest rates than before. The country boomed, with real GDP growth topping 3.8% for eight straight years. (During the same 2000-07 run, U.S. GDP growth never hit 3.7%; Germany didn't make...
Three other nations on the fringe of the euro zone--Portugal, Ireland and Spain--are caught in the undertow of Greece's crisis. All three have displayed better fiscal behavior than Greece, but they suffer from the same disconnect between their dire local economic conditions and the monetary policymakers in...