The Lord Mayor’s Show: A celebration of commerce and military discipline November 8, 2012 COMMERCE and peace do best together. In her history of trade and culture in the Renaissance, Worldly Goods, Lisa Jardine points out that, within days of the fall of Constantinople in 1453, the Genoese sent ambassadors to negotiate their continued right to trade within the Ottoman Empire. The work that commerce still does today to [...]
Economic realities push Europe closer to a Greek decision November 8, 2012 ONE down, one to go. The Greek government has got through one crucial vote this week, and looks likely to ride out its budget vote on Sunday. Although markets and Eurozone leaders will breathe a sigh of relief, as Greece makes it through another crucial week in its economic crisis, the government has not been [...]
After the Bank of England held interest rates at 0.5 per cent, should it soon consider a rise? November 8, 2012 YES Andrew Sentence Monetary policy has reached its limits in supporting growth via more stimulus. The challenge now is to adjust to the “new normal” – a world which has been forged by the financial crisis and the rapid growth of emerging market economies. As part of this adjustment, we need to gradually return interest [...]
Rapid responses November 8, 2012 Special relationship [Re: It was attitudes not demographics that determined the US campaign, yesterday] Stephan Shakespeare’s insightful piece has interesting implications for UK politics. Firstly, David Cameron can be reassured that a leader presiding over a lacklustre economy won’t necessarily be voted out of office. But secondly, Cameron should be concerned that even attitudes in [...]
It was attitudes not demographics that determined the US campaign November 7, 2012 THERE are three things that matter about the US election result, seen from my pollster’s point of view. What do we learn about the role of demographics against attitudes in determining outcome? What might the result mean for the next UK general election? And why did we get that Mitt Romney phantom swing? A lot [...]
The President has a mandate but must now battle the second term curse November 7, 2012 AS AMERICANS congregated around their television sets on election night, all eyes were on Florida. With its 29 electoral college votes, losing the state would put an early end to Mitt Romney’s hopes of winning the White House. But, with quick and decisive victories elsewhere, it was clear that President Barack Obama would win re-election [...]
EU banking union is a vital moment to defend finance November 7, 2012 THE fortunes of UK financial services hang in the balance, as the future of a European banking union is resolved. If we make the right choices now, this could be an opportunity to secure advantages for Britain. By some measures, financial services account for 10 per cent of our GDP and over 10 per cent [...]
Will a second presidential term for Obama improve prospects for the global economy? November 7, 2012 YES Dan Morris Markets like certainty, and the fact that President Obama won a definitive victory must be taken positively. With little change in the make-up of Congress, there is a good chance for a resolution to the issue of the fiscal cliff before the end of the year. However, the fiscal cliff may turn [...]
Rapid responses November 7, 2012 Divided State [Re: So much for the election. Now America must regain its mojo, yesterday] This article is correct. The closeness of this election (a clear reminder that America is still a highly divided country) does nothing to resolve which direction the US should take. With 48 per cent of the electorate behind Romney, there’s [...]
Britain’s unstable pensions policies are holding back long-term saving November 6, 2012 THERE is widespread agreement in both government and in business circles that Britain’s pension regime needs urgent reform to make it fit for the long term. People are not saving enough for retirement and businesses are continuing to struggle to provide adequate pension schemes for their employees. So far, plenty of work has been done [...]