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...I recommend looking at the public presentation slides from the authors Veronica Guerrieri, Michala Marcussen, Lucrezia Reichlin and Silvana Tenreyro....
...“The Germany economy is tied in with the auto industry and the global equipment goods cycle,” said Michala Marcussen, Société Générale’s chief economist....
...Michala Marcussen says Spain’s particular problem is its gap in conditions for permanent and contract staff: In our opinion, much of this is attributable to the dualism that results from the very large...
...If we’d seen a massive flow back, the worry would be that people had become too complacent too quickly,” he says....
...We’d argue it’s going to be very hard to sell the bondholders more deckchairs on the Titanic from this point, if they can see the ECB already in the lifeboats....
...(We’d like to see a snowball effect for the US and UK over the period as well. Not going to be pretty, FT Alphaville imagines.)...
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