Re: [Pen-l] Downturn Accelerates As It Circles The Globe

["Anthony D'Costa" <promothesdcosta@xxxxxxxxx>]

I have to say Denmark is in a better position (though they have been stretched in protecting the Danish kroner).  The economy is somewhat soft, it has been since last early year as reflected by the real estate market.  Copenhagen had its own real estate bubble as its flexisecure labor market combined with labor shortages kept the economy humming for a quite some time.  The dampening of the economy, not related to the subprime crisis, has slowed growth.  But I have not heard of major layoffs though recruiting has slowed down.  Bank lending has tightened, as I found out since we are in the market.  The irony is that it is a good time to buy but my US savings, Copenhagen prices, and a small bank loan nullifies the opportunity considerably!

Cheers, Anthony

On Sun, Jan 25, 2009 at 5:56 AM, Joanna <123hop@xxxxxxxxxxx> wrote:

Thanks for the article Louis. I have to admit that the one thing that has surprised me in all this is how awful the situation is in Europe. Don't know why, but I thought they were smarter than that.

I think what fooled me was their welfare state structures, which, when you think of it, were legacies rather then auguries.

Joanna
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Anthony P. D'Costa
Professor of Indian Studies
Asia Research Centre
Copenhagen Business School
Porcelænshaven 24, 3
DK-2000 Frederiksberg, Denmark
Email:ad.int@cbs.dk
Ph: +45 3815 2572
Fax: +45 3815 2500
PhD in INDIAN STUDIES WEBSITE
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