The U.S. reported that 3.8 million laid-off workers applied for jobless benefits last week, raising the total to 30.3 million in the six weeks since the outbreak took hold.
Discussions around large current account imbalances among systemically relevant economies as a threat to the stability of the global economy faded out in the aftermath of the global financial crisis.
That Spartan culture of sacrifice and honor, of courage and commitment, is a fundamental part of the Greek Way. It reflects the values, enterprise, and determination of the people of Greece. They deserve our help and support, and - like the ancient Greeks before them - they will stand with and for us as well.
It's nice to see that a few IMF economists finally recognize some of the failures of neoliberalism. In recent years there has been some other research at the Fund that acknowledged major mistakes.