Macroeconomics

A few changes have taken place in the global markets during the last two weeks. Trouble that started some weeks ago with the payments problems in Dubai continued and spilled over into Europe. Greece is also in deep trouble having been fiddling the budget statistics for years. Ireland, Portugal and Spain have been downgraded or are under special supervision from the international rating agencies. This has put pressure on the euro, which has declined by more than 3% during the past two weeks.

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