Graph of the day

The graph is from the new paper: "This Time it's Different? Youth Labour Markets During 'the Great Recession'" by Niall O'Higgins (March 2012).

Soros on Greece

In these circumstances an orderly default and temporary withdrawal from the eurozone may be preferable to a drawn-out agony. But no preparations have been made. A disorderly default could precipitate a meltdown similar to the one that followed the bankruptcy of Lehman Brothers, but this time one of the authorities that would be needed to contain it is missing.

Source