albania was the poorest country for many decades in europe
now the award is taking greece the laureate of poverty

in any case the members of muneral fund failed
as the members of eurozone

the only solution is the reconstructing of the naional debt and to donate 110 bilions euros like they did on ireland

so if that happened there is a small possibility eurozone to survive with the survival of the greek economy

the only logical that i heard from the members of the muneral fund is the greek governors to sell public estates because they are not capable to administrate them by themselfs

it was and the only logical measure all the others deserved a nobel of irrationality

they squize the greek nation like the jewish of aousvits thats why they didnt have the money on their accounts that they expected

the second measure has to do with the expenses of the political system

this system costs and it costs a lot for the point that greece reached

it is not irrational a member of the greek parliament to receive 1000 euros instead of 15000 euros when others do no have anything to eat or they took 300 as a salary or they are not receiving anything at all

they spent millions of euros for unexcusable dinners and capriches that even marie antoinette would have felt a jealousy
when the people starves to death
or whn they multiplied the beggars and the poors

i expected that they would asked it from the muneral fund

i never saw a such degree of intolerance the 32 years that i have lived on planet earth by greek government

http://www.arelis.gr
it contains erotonomicon for all people who have the appetite to read some juicy
not like the unexistent juices of the muneral fund

Same case Romania, same case Bulgaria, same case Hungary, same case Ukraine, same case Croatia, same case Ireland, same case Spain, smae case UK.

All these people were “experts” in losing other people’s money.

And the irresponsible banks were in Austria, Germany, Sweden, were everyone was trying hard to save, and looking for returns on their pensions. On aggregate, of course.

You totally lost me there.

Are you really saying that there’s a correlation between “money saved” and the “money banking industry lost”? What about Iceland or USA? Iceland lost _way_ more (in any proportion) than what they were saving and US has not been saving anything since 1960.

Most of what we need to know is easily accessible in databases, it is knowing what you are looking for which is the hard part. Swedish participation rate between 55 and 65 is 70.1%, while Finland’s is 56.5%. And for males it is 73.4% for Sweden and 57.1% for Finland. There is your health and life expectancy issue, and there is the difference between Swedish and Finnish per capita GDP.

“Any chance that you could edit the spam protection filter. As it is, if you don’t remember to fill out the field and press “Submit” you’ll end up losing the entire post when pressing back.”

Sorry, this isn’t my end of things, but I’ll pass the request on.

“What’s your point with the male life expectancy? Sweden is at 78.5 and Finland at 75.5 (roughly)… are you saying Sweden is going to have additional problems when dealing with pensions?”

No, What I am saying, is that every euro (or krona) invested in a the upbringing and education of a Swedish child has a bigger economic return (ceteris paribus) than the same euro or krona invested in a Finnish child, since the child can work three years longer. That is, IMHO, one of the fundamental reasons GDP per capita is higher in Sweden. Finnish workers on average leave the labour force much younger than Swedish ones do, a point the OECD repeatedly draw attention to.

If you can work longer, for health reasons, then you can have a better pension. I think its’ as simple as that. I’m not saying the Swedish situation is perfect, but it is a lot better than Finland’s. See my Finland post (up this afternoon, for more details on all this). Simple economics really.

“Another major difference that I see would seem to be the fact that the banks in Finland haven’t been doing anything as stupid as the Swedbank & co in the Baltic Lending Episodes.”

Definitely, I agree. But it is their own money they have been losing (since they are a surplus country) unlike say Spain (or the Baltics) who have lost a lot of other people’s money. I think Sweden can simply resolve this and move on. Though as I keep saying, nothing here is easy from now on. Again, see the problems Finland is having maintaining the trade surplus.

But be careful. This is not a football match. I have no interest on one side or the other, I am just looking (from a certain theoretical perspective, that demography matters) and reporting what I see. I have no special interest in boosting Sweden or trashing Finland (which I hope I am not doing). I think nationalism is a big problem, since national sentiment puts emotion over reason.

I started on all this when I saw the positive Swedish PMI reading. Incidentally, that’s another institutional plus for Sweden, since Finland is still using the old fashioned GDP indicator.

What’s your point with the male life expectancy? Sweden is at 78.5 and Finland at 75.5 (roughly)… are you saying Sweden is going to have additional problems when dealing with pensions?

Another major difference that I see would seem to be the fact that the banks in Finland haven’t been doing anything as stupid as the Swedbank & co in the Baltic Lending Episodes. Actually all the research that I’ve done seems to point to the directly on Finnish banks having surprisingly reasonable leverage ratios (ranking from 12:1 to 20:1 or so).

“My guess would be that the graphs on Finland wouldn’t be much different.”

Well you’d be guessing wrong then, at least from where I am sitting. There are important differences in both the short run and the long run dynamics. The short run issues are less important, but the long run ones need to be addressed. The main difference is that Finlands external position has deteriorated, and this needs to be addressed. You can’t eneter a stage where you start to become an external deficit country on any sustained basis, or in ten years time you will look like Hungary.

Also, there is a difference in male life expectancy which has an impact which is hard to quantify, but I feel may be important, see my post.