Quick note here on the US and the UK to change things up a bit from the Cyprus obsession. Before I start I want to alert you that I will be on holiday/vacation in Germany for the next two weeks and so I won't be able to write a lot during that time. I won't even be near a computer a lot of the time so I can't be sure how much I will write. Now, let's move on the the US and the UK.
A couple of years ago I wrote something along the lines of "the US and the UK are a perfect experiment for how stimulus and austerity work." Let me stop here and find the article so I can give you the exact quote. Ok, here it is (with emphasis added):
"The UK and the US are remarkably similar in their heavy dependence on financial services and the housing bubbles which preceded crisis. The similarity is greater...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.