On July 27, I will be leaving these shores for the health spas of Martha’s Vineyard, where I will remain until August 28, rejoicing in the company of the nattering nabobs of negativism. This blog will lie fallow till early September. The blogging business is addictive. I have done it non-stop since April 2007 and am overdue for a break (as are those who stumble upon my blog). Cold turkey starts now. Enjoy your summer.

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Professor of European Political Economy, London School of Economics and Political Science; former chief economist of the EBRD, former external member of the MPC; adviser to international organisations, governments, central banks and private financial institutions.