Financial Times (October 1)
Helmut Kohl, Jacques Delors and the other creators of the euro are at blame. “Their dream of leaving a legacy of a United Europe, with a single currency at its core, has turned into a nightmare.” They may have other achievements, but the euro was hubris. “When it came to the euro, they pursued their grand vision while ignoring the objections of those who questioned whether a single currency could work for such diverse economies. Today’s Europe is living with the consequences of their hubris.”
Tags: euro, Grand vision, Helmut Kohl, Hubris, Jacques Delors, Objections, Single currency
Institutional Investor (September Issue)
Is the financial system safer “after four years of summit meetings, regulatory conclaves, landmark legislation and detailed rule-writing—all of it aimed at ensuring that the financial system would never again crash the global economy or force taxpayers to underwrite costly bailouts?” Many things appear to have changed for the better and the regulatory stance is more aggressive, yet some of the changes may be releasing new risks that could surpass anything we’ve seen before. “The answer is not simple.”
Tags: Bailout, Economy, Financial system, Regulators, Risk, Safety, Taxpayers
