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When was the last time you were asked to do something you are not responsible for? Well, I have been many times. For instance, regarding a bill issued by a colleague from another department, or that the coffee machine is out of coffee – I did not simply walk away just because it is not my responsibility. How long does it take to pass a message to a colleague instead of simply telling client “Sorry, I cannot help you with this”? Does it take longer to open the coffee machine and fill it with...

Previous years’ economic recovery was in many ways an illusion and the world economy stands before an extended period of slow growth as businesses, households and governments consolidate their balance sheets. Politicians on both sides of the Atlantic Ocean will make the necessary decisions to avoid a deep global depression. The decisions will, however, be characterized by disagreement, skepticism and reluctance - and the market turbulence will persist throughout 2012. The Nordic economies have...

Roughly 6.7 million people live in the three Baltic states, with over 175, 000 square kilometers of territory. In terms of size the region is comparable to Denmark, Finland, Slovakia or Switzerland. Interestingly enough, the Baltics historically became considered as a single (and separate) region – not CEE and not Nordics, but something in between. Therefore, in the minds of RE investors a separate region also means a separate regional real estate transactions market. And indeed a very small...

The darkness is spreading across Europe and the moment of truth is approaching. The development has gone so far that, at the time of writing (December 1), it has become increasingly clear that unless the European leaders come up with a reasonable solution within a few weeks there is great risk of a euro zone break-up. This fragmentation would threaten the European cooperation, involve a rapid and deep global recession and push the global banking system towards a collapse. The debt crisis is...