What Next in Greece?

May 21, 2012 by

The disintegration of Greece’s political status quo has shaken Greek society - and the political and administrative elite - to their core. The new elections that will be held on June 17th will be the first to be conducted in several decades without a bipolar political system in place - at least not the one we have come to know since 1974. The ‘clientele’ system is giving way to a more individualized and complicated approach, more a function of realism and ideology than patronage.

2012 IMF Economic Outlook for Sub-Saharan Africa

May 21, 2012 by

The International Monetary Fund (IMF) economic outlook for Sub-Saharan Africa published in 2012 is now available. It offered the following conclusions: Despite difficult external conditions, output in Sub-Saharan Africa grew by 5 percent in 2011. Most countries shared in this expansion. Exceptions included South Africa, slowed by weakness in major European trading partners, and countries in West Africa affected by drought in the Sahel and civil conflict in Cote d’Ivoire.

Germany is the Big Loser, Not Greece

May 21, 2012 by

Given the German electorate’s long standing aversion to “fiscal profligacy” and soft currency economics (said to lead inexorably to Weimar style hyperinflation), one wonders why on earth Germany actually acceded to a “big and broad” European Monetary Union which included countries such as Greece, Portugal, Spain and Italy.