Euromoney (November 26)
The UK looked outside in appointing the Bank of England’s next governor. “The surprising appointment of Mark Carney, Bank of Canada governor, could have profound consequences for the UK’s monetary framework, financial services industry and global bank reform drive.” Carney had been named Euromoney’s Central Bank Governor of the Year for 2012, an award he accepted in Tokyo during the IMF/World Bank meetings.
Tags: Bank of Canada, Bank of England, Governor, Mark Carney, Reform
Wall Street Journal (November 25)
At a time when Japan really needs a leader, none of the candidates for Prime Minister measure up. “As giant problems in need of urgent solutions go, Japan is a thing of beauty. Its economy contracted by 3.5% on an annual basis from July to September, and slack exports and declining industrial production suggest another recession is coming. Demographic decline is well underway and Tokyo’s fiscal position—with debt roughly twice annual output—appears ever more precarious. So it’s a shame, as the Japanese head to the polls next month, that no candidate is offering even plausible solutions.”
Tags: Demographics, Economy, Election, Exports, Japan, Prime minister, Recession
