Britain must be ready to bail out Italy via the IMF November 13, 2011 WITHOUT stable financial markets, there is little hope for the sustained growth so essential for economic recovery. The UK economy is a global leader in the financial services sector but this leaves it especially prone to the adverse impact of uncertainty on global financial markets. No UK taxpayer stands by while unimaginably large sums or [...]
The new Lord Mayor’s message for the City November 13, 2011 AS A keen rower since my schooldays, I have a long track record of steering a course through choppy waters. I suspect this may come in useful over the next twelve months. Having taken over as Lord Mayor at a time when the political and economic environment remains turbulent – and popular opinion towards the [...]
RAPID RESPONSES November 13, 2011 Science v politics Marc Sidwell is right to wish for fewer appeals to “consensus” in political life [Let’s agree we’ve had enough of consensus, Friday]. Most political questions are of precisely the kind that do not (and should not) permit consensus. It’s different in science, where “consensus” doesn’t mean passive observance of an agreed party [...]
Italian gold may be just the job to save the day: A mini solution to Italy’s debt crisis November 10, 2011 GETTING the gold out of Italy isn’t easy. Just ask Michael Caine. However, if as some commentators are now speculating, there is no other option, the only thing worse than trying to sneak it out in a coach along treacherous Alpine roads would be trying to sell it. The odds of getting anything close to [...]
My memories of the fallen on our new battlefields November 10, 2011 IRAQ, 2003 BRITISH WAR CEMETERY, BASRA I jumped down from the turret of the Warrior, and squeezed through the rusty gate and entrance arch of Basra’s British War Cemetery. A large walled plot lay ahead, filled with rubble, rubbish, spiky bushes and wild dogs. I wondered where the graves were. Below my boots lay fragments [...]
Let’s agree we’ve had enough of consensus November 10, 2011 IT’S A curious thing that people welcome the end of one consensus by calling for another. On the New Statesman blog this week, Owen Jones wrote “the old neo-liberal consensus is crumbling” and argued this was the moment for Ed Miliband to establish a “new political consensus”. It seems to be the creed of the [...]
RAPID RESPONSES November 10, 2011 Trying times Ever since I was a guest lecturer at Cambridge University I have been forecasting that the maximum life expectancy of the euro was 10 years, that it would probably be the Italian economy that would be the final straw and that when the whole rotten edifice collapsed it would happen at a frightening [...]
Labour’s plan for business: Government should unite profit with social purpose November 9, 2011 WHEN private equity firm NPM Capital and the current management bought out a sleepy Dutch carpet manufacturer called Desso in 2007, they were seeking to do what all successful investors do: to find a gap in the market from which they could profit. And profit they have. Following the buy out, Desso’s market share rose [...]
Prohibition fuels firestorm of new dangerous drugs November 9, 2011 IN THE restless pursuit of pleasure, human beings will try almost any substance when circumstances require. During prohibition, Americans resorted to drinking toxic moonshine and inhaling ether. Second-rate substitutes and legal highs are seldom as pleasant as the real thing and are sometimes more dangerous, but at least you don’t have to worry about getting [...]
Europe needs to admit that it has a problem November 9, 2011 THE finger of blame usually points away, but sometimes we should turn it round, and point it at ourselves. As individuals, societies and countries we are more often than we normally realise the architect of our own problems. Greeks don’t like paying taxes and love early pensions, and end up with a bankrupt government. The [...]