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Millennials Can't Afford Cars, and Are Fine With That - Bloomberg View
As somebody who wondered in a column last week whether people in developed countries were perhaps learning that they no longer needed as much stuff as they used to, and whether this might lead to big shifts in the global economy, I read on with great interest. [...] The changes in young adults' consumption habits have clearly been influenced by economic forces. But economic forces shape societal attitudes, too. I also don't see much sign that these economic forces are about to reverse. Both these things can be true: The median 25-to-34-year-old has less to spend, and is less interested in spending it on a car.
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september 2015 by asterisk2a
Europe's economic challenge not just about Greece - BBC News
IMF, Christine Lagarde, said: "I remain firmly of the view that Greece's debt has become unsustainable." [...] Greek debt will reach 201% of GDP some time next year. [...] It is unlikely a portion of the debt will be written off but there may well be an agreement to extend current loans and to lower the rates of interest. [...] [ the overall health of Europe as a whole and its individual parts in question] [...] the eurozone economy splutters. There is a recovery - the eurozone is growing at an annual rate of 1.3% - but it is patchy. In the [Q2'15] France and Italy, which account for 40% of the eurozone economy, flat-lined. Italy which had only recently emerged from recession fell back, managing growth of just 0.2%. [...] [ ECB: on balance, outlook remains on the downside ] The eurozone economy is still smaller than it was in 2008. [...] The fundamental challenges to the European economy remain - how to innovate [...] modernise [...] [ EU project living up to its potential ]
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august 2015 by asterisk2a

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