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  • Italy’s Economy On The Ropes (Again)

    “Italy’s per-capita GDP growth was 5.4% in the 1950s, 5.1% in the 1960s, 3.1% in the 1970s, 2.2% in the 1980s and 1.4% in the 1990s. A rough-and-ready extrapolation of this decade-long continued slowdown would lead to expect no more than 0.5% in the 2000s.” Altogether, the long-run data suggest that the bad performance of […]

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  • Has Spain Contracted The Artemio Cruz Syndrome?

    The Mexican writer Carlos Fuentes once wrote a novel entitled “The Death of Artemio Cruz”. The novel begins with an elderly Artemio who suddenly finds himself awake and lying on his deathbed, gripped by repeated spasms of excruciating pain, and terrified even to open his eyes for fear of what it is he might get […]

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  • Will The Real Ukraine Central Bank Please Stand Up!

    Does anyone happen to know offhand the “official” dollar rate of the Ukrainian currency, the Hryvnia? I am asking this question since clearly over at the central bank they are having difficulty deciding at the moment, since – like the legendary character Hydra – they seem to be speaking with two “heads” at the same […]

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