Word: oecd
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...Washington ponders its taxation options, it might also wish to cast its gaze toward the NYSE and Nasdaq, whose companies add very little to the public till. In fact, their contribution as a percentage of GDP ranks in the bottom quartile among OECD nations' figures...
...debacle in Greece could be a harbinger of a new stage of the financial crisis, one in which irresponsible politicians, not bankers, are the main source of economic turmoil. Across the developed world, sovereign states have amassed potentially unsustainable mountains of debt. The Organization for Economic Cooperation and Development (OECD) forecasts that by 2011 the ratio of government debt to gross domestic product - the main measure of a state's financial health - will reach 100% in the U.S., up from 62% in 2007. That's almost as large as Greece's burden today. Ireland's debt burden is expected...
...point in which growth prospects are really taking a hit," Reinhart says. Growth could also be restrained by the budget cuts necessary to narrow deficits and reduce borrowing. The effect could be felt for a protracted period. Jean-Luc Schneider, a deputy director of the economics department at the OECD in Paris, says some countries will take as many as 10 years to reduce their fiscal deficits to more sustainable levels. And since the deficits of so many nations will have to shrink simultaneously, the impact on developed economies is likely to be amplified. "Doing it all at the same...
...unfair to compare a basket case like Haiti, the western hemisphere's poorest country, with a showcase like Chile, which has Latin America's highest per capita GDP and is set to become the first South American member of the exclusive, Paris-based Organization for Economic Cooperation and Development (OECD). Chile can do things right, Haiti defenders argue, because it's more developed...
Bellerive wouldn't go as far as to blame Haiti's élite for the more than 200,000 earthquake deaths. But those who doubt Haiti's ability to transform its government should note that Chile wasn't always an OECD candidate - it spent 17 years, from 1973 to 1990, under a brutal military dictatorship - and that Haitians are more than capable of emulating Chileans if given the chance...