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Peter Koenig – Greece Continues to Be Sucked Dry – and Nobody Stops the “Economic Bloodletting”

How long will this go on? How long will we see the photographs of a Mr. Tsipras and his Finance Minister in despair. Yet the blood-letting continues.  Already new austerity measures are being projected for 2018 – between 5.4 billion EUR asked by Europeans and 9 billion EUR requested by IMF – and the securing of the Greek debt sustainability through …

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Odysseas Papadimitriou – Why Income Inequality Will Get Worse Before It Gets Better

We’ve all heard about rising income inequality, and for good reason: It’s a huge problem. Just consider the fact that the wealthiest 1% of Americans accounted for roughly 21.2% of all earnings in 2012, compared to just 8.9% in 1973, according to UC Berkeley’s Center for Equitable Growth. But far less obvious is the eventuality that things will get much …

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Risk of financial crisis higher than previously estimated International Institute for Applied Systems Analysis

The study, published in the journal Financial Stability, introduces a new method that allows researchers to estimate the systemic risk that emerge from multiple layers of connectivity. “Systemic risk is the risk that a significant part of the financial system stops working–that it cannot perform its function,” says IIASA Advanced Systems Analysis program researcher Sebastian Poledna, who led the study. …