Dutch Housing Market Quarterly Dutch version
The negative spiral afflicting the housing market for some time appears to be broken, and the housing market is stabilising. After a sharp decline in transactions from autumn 2008, the past half year has shown signs of a slight rebound.
Hungary struggled through the financial and economic crisis in 2009. The economy shrunk by 7% and there was little room for fiscal stimulus as Hungary had to adhere to the conditions of the IMF attached to the aid package.
Similar to other Eastern European countries, the financial crisis hit Bulgaria mainly through a drop in export demand, tighter credit facilities and general risk aversion against the region. The economy shrunk by 5% in 2009.
The global recession in 2009 hit Malaysia via the trade channel. The highly export dependent economy experienced a steep decline in external demand for its export products last year.
One of the strongest earthquakes to ever hit Chile occurred on 27 February 2010. The country’s infrastructure sustained massive damage and the death toll is currently estimated around 600. As a result of the earthquake, economic activity will be subdued in the short term.
Since the return to democracy in 1990, the center-left oriented coalition, the Concertación, had won every presidential election. In fact, Piñera is the first right-wing candidate to win a democratic presidential election since Jorge Allisandri Rodríguez won the presidency in 1958.
Some market participants and notable economists are arguing that Greece needs to exit the eurozone, even temporarily, in order to regain its external competitiveness. As attractive as this option sounds, we are inclined to strongly disagree.