Wednesday, August 19, 2009

Montebourg Threatens to Quit the PS ...

... again. This is rich. The guy in charge of "renovating" the party thinks the party is beyond renovation. But he's giving it one last chance.

Olivier Blanchard on the Crisis

IMF chief economist Olivier Blanchard assesses the current state of the economic crisis. Salient points: potential output has probably been permanently reduced; growth rates in recovery will be low; the global economy needs to be restructured, with domestic consumption increasing in Asia and decreasing in the West. The last point is more a wish than un constat, and one might welcome a fuller discussion of how such adjustments might occur. But as an overview of where things stand, this is a useful summary.