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Does anyone else find it...well, funny that the very countries that were made out to be "doing better" "economic tigers" "models to follow" the very same countries who's economies basically fell apart in the 2008 economic crisis (the crisis of today)?
Ireland, Spain, the UK, and the 3 baltic countries....look them up in any pre-2008 article and you'll see van-glorious writings of them being wonderful success stories on deregulated credit and massive financial growth and awe-inspiring economic models to look up to and envy.
While "old europe" countries like Poland, Germany, and Particularly France are often scorned and shunned as "slow growth" "too regulated" "dinosaur economies" and just put down to no end.
And then the ball hits, and what do you know? UK has to rescue countless banks, Ireland's economic tiger goes extinct, the pound falls, Spain and the UK's housing markets collapse, Baltic countries economies all but go bankrupt and unemployment swells everywhere but the UK (still rising in the UK however).
Meanwhile, Poland is hardly affected by the reccession, France and Germany got out of reccession before the USA did and even when they were in reccession most certainly faired much better then those mentioned above.
I think all this goes to show that immediate success and gratification aren't always what they seem and different approaches will have their benefits.
Ireland, Spain, the UK, and the 3 baltic countries....look them up in any pre-2008 article and you'll see van-glorious writings of them being wonderful success stories on deregulated credit and massive financial growth and awe-inspiring economic models to look up to and envy.
While "old europe" countries like Poland, Germany, and Particularly France are often scorned and shunned as "slow growth" "too regulated" "dinosaur economies" and just put down to no end.
And then the ball hits, and what do you know? UK has to rescue countless banks, Ireland's economic tiger goes extinct, the pound falls, Spain and the UK's housing markets collapse, Baltic countries economies all but go bankrupt and unemployment swells everywhere but the UK (still rising in the UK however).
Meanwhile, Poland is hardly affected by the reccession, France and Germany got out of reccession before the USA did and even when they were in reccession most certainly faired much better then those mentioned above.
I think all this goes to show that immediate success and gratification aren't always what they seem and different approaches will have their benefits.