Even though house prices rose more in the GIIPS
than in Germany, it is reaffirmed that "there was no simple core versus periphery distinction".
What steps should be taken to improve the Sovereign credit rating of bond spreads of the GIIPS
, Applied Economics Letters, Pakistan.
We also show in Appendix B how the wage share in national income has decreased for the GIIPS
countries till the financial crisis--except for the case of Greece, which has an exceptionally low wage share, however.
This development can be seen for GIIPS
in the left part of Fig.
countries are dominated by smaller farms with comparatively low levels of investment and value creation.
A plausible process to generate growth in the GIIPS
by increasing demand and strengthening their relative competitiveness is needed, as is a process to both recapitalize the banks and break the link between sovereigns and banks.
also generally experienced faster growth in prices (inflation),
Its chief executive Frederic Oudea said in a statement that the bank had low exposure to GIIPS
sovereign debt, while its business was profitable and liquidity, shareholder equity and solvency were a[euro]oestatisfactorya[euro].
The French bank' CEO, Frederic Oudea, said, 'Societe Generale's exposure to GIIPS
sovereign debt is low and very manageable in any final scenario.
When, or if, they adopt the euro, they should apply valuable lessons from the GIIPS
's experience so as to avoid painful adjustments later on.
In general, almost all service sectors--with the exception of transport and storage, as well as financial intermediation for GIIPS
, electricity, gas and water supply for non-euro, and renting activities for core and East--are limitedly involved in international trade, and thus can be labeled as non-tradables.
On the convergence/divergence path of the GIIPS
and NMS countries compared to Germany see Wagner (2013b, 2014).