Daily Archives: May 14, 2012

We need to accept without panicking that a bank may sometimes lose $2bn. After all, far more was lost from old-fashioned corporate loans turning sour during each of the last two recessions. Continue reading »

Given conditions on the ground, the current 17-member eurozone needs to evolve into a smaller and less imperfect union if it is to avoid the growing risk of total fragmentation – namely a closer economic and political union among the big four (France, Germany, Italy and Spain) along with other members with similar initial conditions. Continue reading »