James Alexander via Historinhas | Call me a conspiracy theorist but when three unrelated beasts of the global financial establishment all start talking about the same, previously unfashionable, thing it’s a bit of a coincidence.
James Alexander via Historinhas | In a “currency war” it pays to be the loser. If you need an expansionary monetary policy, like most currency blocs today, don’t let anyone undercut with dirty devaluations. So, when a big baby like China decides to lower the value of its currency versus the biggest baby of all, the USD, make sure you are not caught in the cross fire.
Madrid | By Sean Duffy | Yanis Varoufakis has been causing quite a stir on his trip around Europe. The Greek Finance Minister will meet with his Italian counterpart on Tuesday, and both will be watching market reaction to proposals leaked by the Greek Government last night.
BRISTOL | Guest post by Tony Yates (Long and Variable) | That’s what George Osborne’s twitter feed would have you believe. And it was echoed by Andrew Sentance. Statements like these are at odds with modern monetary macro, and they are pretty irresponsible.
THE WEEK FROM LONDON | By Victor Jiménez | “Preposterous!,” said –wait for it, yes– minister for Education Michael Gove, who found this remote Latin-built-in word the perfect match to describe most of the cabinet to which he belongs. He might have intended to upset colleagues without letting the rest of the country understand…
LONDON | By Victor Jimenez | The strongest rejection against the Review came from within the City, from the £162.8-billion investment fund manager Fidelity, which said that “up front austerity has proved largely counter-productive.”