Check
out all of the RGE analysis and EconoMonitor contributions that were published
this past week at roubini.com.
RGE Analysis:
How to Avoid a
Greek Tragedy in Europe by Nouriel Roubini and Arnab Das
Greece
is the lynchpin of eurozone sovereign risk. We advise going flat for now. Greece
is the debt crisis of the moment, but its problems are far from unique. On
their resolution rides the fate of Greece's neighbors, the eurozone and perhaps
the EU itself. Greece, like the rest of the PIGS, has an excessive public debt
and fiscal deficit and is uncompetitive. A sovereign debt restructuring that
reduces both the debt stock and interest burden and a substantial real exchange
rate devaluation would clean up the national balance sheet, restore
competitiveness and reinvigorate growth. [Available to RGE Clients Only]
Regulatory
Impediments to Ending Japan’s Lost Decade by Mikka Pineda
Even
after the end of Japan’s financial crisis of the 1990s, the economy has yet to
regain the stratospheric ascendancy it maintained throughout the post-war
years, and it continues to punch below its weight. This analysis explores how
legal restrictions—combined with demographic change and increased global
competition—may be trammeling the Japanese recovery. Regulations in the areas of
labor mobility, savings accounts, land use, retail distribution, trade and
biotechnology are doing more harm than good, and significant reform is a
necessary first step toward truly ending Japan’s lost decade. [Available to
RGE Clients Only]
