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area countries now under financial market pressure. (Greece, Ireland, Portugal, Spain and Italy = GIPSY). The key finding … is that the adjustment will be particularly difficult for Greece (and Portugal) because these are two relatively closed … satisfy the Stability Pact. By contrast, Ireland and Spain face more of a liquidity than a solvency problem. Italy seems to …
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Employment and labor force participation (LFP) rates have increased throughout Europe since the 1990s, with little interruption from the Great Recession. While many credit labor market reforms for this progress, ongoing educational expansion might actually be more important. This implies that...
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