This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Kenneth Rogoff, Thomas D. Cabot Professor of Public Policy and Professor of Economics, Harvard University & Ross Chainey, Digital Media Specialist, World Economic Forum The financial crisis of 2008 may have started in the US banking sector but it […]An economist explains what happens if there’s another financial crisis
May 1, 2019 by 1 Comment
This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Kenneth Rogoff, Thomas D. Cabot Professor of Public Policy and Professor of Economics, Harvard University & Ross Chainey, Digital Media Specialist, World Economic Forum The financial crisis of 2008 may have started in the US banking sector but it […]Lessons from dealing with the collapse of Lehman Brothers
January 25, 2019 by Leave a Comment
This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Gideon Moore, Firmwide Managing Partner, Linklaters 2018 marked the tenth anniversary of the collapse of Lehman Brothers – the emblematic event of the global financial crisis, and one whose ramifications are still being felt across the world. As legal […]Deutsche Bank slammed by the US-based trio of IMF, Fed and Moody’s
July 4, 2016 by Leave a Comment
Last Thursday morning the International Monetary Fund and the American central bank, the Fed, simultaneously but in the face of it independently, issued warnings about the health of the largest German lender, the long ailing Deutsche Bank. A few days before that the US rating agency Moody’s had degraded the creditworthiness of the bank close […]For how long and at what cost can the ECB continue printing trillions to keep euro area going?
June 9, 2016 by Leave a Comment
Last Tuesday Eurostat, the EU statistical service issued a Press release revealing that the GDP of Eurozone (EU19) and EU28 rose in the first quarter of this year by 1.7% and 1.8% respectively, compared with the same three-month period of 2015. On the yearly developments platform, there is more good news. The same source revealed […]Who cares more about taxpayers? The US by being harsh on major banks or the EU still caressing them?
April 18, 2016 by Leave a Comment
The world economy remains more or less motionless or even recedes six years after the financial meltdown, because the banking industry has not yet decided what’s best for its interests. Continue leveraging itself (borrowing) on central bank liquidity in a stagnating environment, or start deleveraging and send the world to another deep recession, if not […]Why the financial scandals multiply?
February 7, 2013 by Leave a Comment
Deutsche Bank discharged yesterday a number of medium ranking dealers, related to the Libor fixing ring, while along with other major European lenders Deutsche appears ready to pay fines of hundreds of millions. Yesterday the Royal Bank of Scotland, another “systemic” financial group, agreed to pay $600 million in fines to US and British authorities […]Basel III rules relaxed: Banks got it all but become more prone to crisis
January 8, 2013 by Leave a Comment
The European Commission through the most competent lips of its member, Michel Barnier, responsible for Internal Market and Services rushed to endorse the new unbelievably generous concession to banks all over the developed world. This time it was the Group of Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on […]How Greece was destroyed
November 24, 2012 by 1 Comment
Right from the beginning, the scenario of the Greek financial tragedy was criticised as fake. Towards the end of 2009, the newly elected government of George Papandreou, son and grandson of prime ministers, found out that his PASOK socialist party had won the election on populist promises that could not be fulfilled. Papandreou […]EU summit: Are the London Tories planning an exit from the EU?
November 23, 2012 by 1 Comment
It’s not the first time that the European Union leaders are divided between the paymasters and the receivers. However during their last Summit of Thursday and Friday 22 and 23 November the 27 heads of states and governments were divided in more than three groups and left the conference room blaming each other, for the […]Lagarde’s metamorphoses, not a laughing matter
November 16, 2012 by 2 Comments
International politico-economic relations is a tricky field, with the major players constantly changing stance, according to their short term interests, putting aside whatever honourable principles are left in their decision making procedures. And all that being discussed and decided upon, by a handful of people behind closed doors. If those people were not playing with […]Is our brave new world about to burst?
September 22, 2012 by Leave a Comment
“Splitting” is the magic word one hears nowadays all over the world in developed and developing counties alike, from Belgium, Spain, Scotland and Canada to Syria, Palestine, Iraq, Soudan, Libya and Turkey as if until now there were no divisions over national identity, incomes, wealth and natural endowments. Flemish, Flemish, Scots, Quebecois, Benghazies, Alawites, Kurds […]
