What was really agreed last night in Brussels

On the basis that if Jean-Claude Juncker denies something, it's probably true, it’s worth examining the deal cranked through Brussels last night to “save” Greece. Juncker and his fellow eurocrats insist it doesn’t involve any debt forgiveness for the benighted country. And that’s odd, since the more one examines it, that’s precisely what this looks like. As a result of this … Continue Reading ››

Mark Carney: should we believe the hype?

"The best central banker in the world" - The Economist on Alan Greenspan, 2000 "The outstanding central banker of his generation" - George Osborne on Mark Carney, 2012 Is anyone else out there taken aback by the almost universal adulation of Mark Carney, the incoming Bank of England Governor? I'm not suggesting Carney isn't worth the money or effort that's gone into his recruitment. There's no doubt the Canadian financial system performed well … Continue Reading ››