Greece: can’t pay/won’t pay?
- 25 May 2012
"Institutional investors, from pension funds to mutual funds sold directly to the public, have slashed holdings in the past decade. Stocks have not been so far out of favour for half a century. Many declare the ‘cult of the equity' dead." FT Alphaville
If the Glass-Steagall Act had still been around in 2008, it probably would not have prevented the financial crisis, writes Andrew Ross Sorkin. Deal book
Mark Harrison says economic history suggests that it is exceptionally difficult to persuade a country to hand over a significant fraction of its national income to foreigners over any sustained period of time. "Naked force will do the trick, but nothing less will do." Mark Harrison's Blog
Eamon Butler explains why the "eurobond" idea will distort the price mechanism and why the system builds in moral hazard for over-spent and over-borrowed countries like Greece and Italy to take advantage of the collective guarantee made by all 17 eurozone nations. Adam Smith Institute
After numerous rounds of monetary easing by both the Federal Reserve and the ECB, Graham Summers believes that recent statements – especially from Ben Bernanke, show that central bankers are finally coming around to the fact that monetary actions have not solved the issues that led to the crisis. Zero Hedge
Got any other suggestions for what we should be reading? Tell us below?
To receive our free daily newsletter sign up here.
- Compulsory in-car cameras to cut insurance costs: would you object?
- Retirees raiding pensions next year risk huge tax bills
- Three options for investors to ride out FTSE turmoil
- Bond markets are pricing much weaker growth
- Bank of England chief economist 'gloomier' on outlook for UK
- Pensions minister calls for 'unwinding' of annuities bought pre-pension reform
- Find out which FTSE 350 chief earned 2,000 times the living wage last year
- Mindful Money's weekly shares watch: Tesco, GlaxoSmithKline & Unilever
- Second steppers need to find £60k to move home
- Gov't consults on third-way ISA for P2P lending