Banks: vampire squid or spider wasp?
I think it’s safe to say that the banks haven’t persuaded many people that they are fine global citizens over the past year.
By Ben Chu | Eagle Eye, Econoblog | Wednesday, 26 October 2011 at 12:44 pm
The “volatility junkies” of the banking world
Haldane argues that limited liability for bank shareholders is a problem because it limits downside risk (holders of equity know they won’t lose everything if the bank goes bust) but the upside payoffs are unlimited. This, Haldane, argues creates a bias towards recklessness by bank shareholders.
By Ben Chu | Eagle Eye, Econoblog | Wednesday, 26 October 2011 at 12:20 pm
The Bank of England vs the Office for National Statistics
It’s important to note that not everyone thinks that the ONS is the one letting the side down. Another former member of the MPC, Danny Blanchflower, argues that the Bank should look at its own faults first.
By Ben Chu | Eagle Eye, Econoblog | Wednesday, 26 October 2011 at 10:35 am
How big does the euro “bazooka” need to be?
The eurozone insurance scheme probably needs to big enough to guarantee, at the very least, 1 trillion euros of Spanish and Italian debt if it is to be credible to the financial markets.
By Ben Chu | Eagle Eye, Econoblog | Thursday, 20 October 2011 at 11:45 am
Exactly who is holding Greek debt?
The big losers resulting from a large writedown are going to be commercial banks, private investors and, potentially, the European Central Bank.
By Ben Chu | Eagle Eye, Econoblog | Monday, 17 October 2011 at 10:15 pm
Jean-Claude Trichet’s creditor mentality
Greece would not have been able to borrow if European banks had not been willing to lend. The ECB cautions about profligate borrowing by sovereigns. But what about profligate lending by banks?
By Ben Chu | Eagle Eye, Econoblog | Thursday, 13 October 2011 at 8:03 pm
The Coalition’s heroic assumption on poverty
The Government says that the IFS researchers are being obtuse and failing to factor in the revolution in work incentives that the Government’s welfare overhaul will create.
By Ben Chu | Eagle Eye, Econoblog | Tuesday, 11 October 2011 at 12:06 pm
Are we better off, or worse off, than we thought?
A mixed picture. On a longer view we’re better off. Total output is higher than we thought. But in terms of recovering from the recession, Britain is doing less well than we believed.
By Ben Chu | Eagle Eye, Econoblog | Wednesday, 5 October 2011 at 4:55 pm
Fast or slower: which is the greater gamble?
Mr Osborne characterises the idea that the government should cut more slowly as a huge gamble. But the Chancellor is making a gamble himself. He’s betting that the British economy can withstand an average fiscal tightening of 1.6 per cent of GDP per year over the Parliamentary term.
By Ben Chu | Eagle Eye, Econoblog | Tuesday, 4 October 2011 at 1:12 pm
Does Britain need to reduce corporation tax?
The Institute of Directors, distinguished as it might sound, is a business lobby group. And like all business lobby groups its primary job is to benefit its members, rather than to present the public with the full picture.
By Ben Chu | Eagle Eye, Econoblog | Monday, 3 October 2011 at 11:47 am
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