Forget the Brics: Breakout nations will be the next countries to watch May 27, 2012 NO IDEA has done more to dull thinking about the world economy than the acronym Bric. It lumps together Brazil, Russia, India and China, all with little in common other than that they are the largest economies in their regions. The Bric idea has spawned endless copycats in the last decade, because it was an [...]
European cookie law risks hurting UK tech business May 27, 2012 THE 12 month grace period for the Cookie law is over. The Information Commissioner’s Office (ICO) will now start to enforce regulations resricting the storage of personal data. Businesses which use cookies or other tracking techniques to gather information from website users must comply. The Cookie law is a European based law, and is being [...]
The City’s history may be great but its future depends on open borders May 27, 2012 THE CROWDS queuing for a glimpse of Her Majesty’s royal barge will get – for a few hours – a useful reminder of the role geography has played in the success of London as a global trading hub. And the importance of immigration, too. Sunblock and brollies at the ready on Sunday, we will gaze [...]
Would a Greek exit from the euro lead to a wider European systemic banking crisis? May 27, 2012 YES Michael Derks Southern European banks are facing sizeable problems, and there’s huge potential for this to intensify and spread through Europe, possibly to the UK. There are only two effective ways to stop a bank run – the relevant government either nationalises and recapitalises affected banks (far too expensive) or guarantees depositors. Sadly, deposit [...]
RAPID responses May 27, 2012 Euro bondage [Re: Eurozone crisis moves ever closer as Greek left gains ground, Friday] I don’t know how we came to believe that growth will somehow cure the debt crisis, whether in Greece or the UK. Our massive debt was added to during a period of sustained economic growth. It will still require political action, [...]
The gold standard gives priceless insights into how to save the euro May 24, 2012 THERE is almost no economic problem for which there is not at least one precedent. Examining precedents can help guide policy makers and their advisers – if they are willing to look. But policy makers trying to deal with the euro crisis have not taken advantage of this opportunity. Many currency unions have been formed [...]
Celebrate the open power of the 2012 Olympic truces on tax and visas May 24, 2012 THE Olympic flame is making its way around the length and breadth of Britain, a vivid symbol of one of the key values of the ancient Games: freedom of movement. Before the games at Olympia, a truce was declared so that officials and athletes could make their way to the Games without hindrance or legal [...]
Britain’s solitary stance on energy policy is foolish May 24, 2012 THE government’s draft Energy Bill is an utter disaster. It reverses the course of UK energy deregulation, which cut prices, and will lead to confusion for companies and added costs for consumers. Lord (Nigel) Lawson, who as energy secretary was the architect of Britain’s energy market deregulation in the 1980s, has warned that the Bill [...]
Should Britain consider regulation to end the current model of no-charge banking? May 24, 2012 YES Alex McEvoy Banks sell a very complicated set of products and clarity is vital so that customers understand what they are paying for. It costs a bank hundreds of pounds a year to service an account – for cards, secure websites, statements, and anti-fraud systems, as well as complying with regulations. Banks currently make [...]
RAPID RESPONSES May 24, 2012 Europe’s cash cows [Re: Europe’s shared currency shouldn’t entail Germany bankrolling a debt union, Wednesday] An interesting article by Jamie Whyte, though it misses one crucial point. Whyte’s premise that Germany shouldn’t subsidise other EU members, by principle, forgets one long-standing policy – the Common Agricultural Policy. Germany has indirectly subsidised French agriculture for years. Of [...]