I was given a copy of John Kenneth Galbraith’s 1975 treatise which goes by the name of Money: Whence it … Continue reading “Debts, deficits and slow growth”

Britain currently has two emergency fiscal rules. There is a commitment, roughly speaking, to eliminate the structural deficit and to … Continue reading “A British debt brake”

The government is to be applauded for its attempts to get the medium-term public finances under control. However, its enthusiasm … Continue reading “Britain’s long-term outlook is suffering as the coalition pursues medium-term gain”

Recession in the eurozone could trigger widespread sovereign defaults The eurozone sovereign debt situation is on a cliff edge. This … Continue reading “Eurozone on a ‘cliff edge’, ready to fall”