Word: growth
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...spent an enormous $40 billion. London originally planned to spend $8 billion for the 2012 Games; the current estimate is $19 billion and rising. "Once the Games leave town, there often isn't much to celebrate," says Humphreys, noting that host countries nearly always experience a drop in GDP growth in the year after the Games. (See highs and lows from the 2008 Beijing Games...
...globe. Ironically, the yen today looks relatively strong compared to the dollar, making it more expensive to borrow and so riskier to carry. "Even though interest rates are low everywhere as global demand gradually picks up, we think the yen will strengthen," predicts Credit Suisse's Desbarres. Economic growth in the U.S. appears so sluggish, by contrast, that Credit Suisse does not expect any rate hikes from the U.S. Federal Reserve, necessary to strengthen the dollar, until the middle...
...government spending winds down, we should start getting stronger growth from other parts of the economy," says S&P's Wyss. "But our rate of growth is still probably going to slow because of the drop after the stimulus." And of course, there's that lingering anxiety over what happens if the stimulus ends and the economy is too weak to generate growth...
...taxes and simplify Germany's tax code - regarded as one of the most convoluted in Europe. The FDP leader says the goal is simple: more money in the pockets of workers. Lower taxes, the party says, will increase tax revenues by providing more incentive to work and boosting growth. Pushed by the CDU's sister party, the Christian Social Union (CSU), Merkel has already promised to cut taxes, but she cleverly avoided mentioning any date. The issue is likely to define the new government - either because Merkel and company carry out reforms and remake many of the German economy...
...That won't please business leaders, who have welcomed the prospect of a new direction. "We want to work with the new government to make sure there's economic growth," said Hans-Peter Keitel, the President of the Federation of German Industries (BDI). That enthusiasm will disappear quickly should Merkel shy away from change. "I hope the new government will be good for business as Germany needs structural reforms," Volker Treier, the chief economist of the Association of German Chambers of Industry and Commerce told TIME. "We need a more flexible labor market, reforms of the social security system...