When the next crisis hits, fiscal policy alone will not be enough — central banks will need monetary policy too For three decades, central banks promised us they would take care of the economy. Fiscal policy, we were told, was toothless. Monetary policy would ensure prosperity. But central banks have failed to deliver the prosperity they promised. And in an astonishing reversal, they are now calling for fiscal authorities to take the strain. Monetary policy [...]
As it puts itself up for sale, is the Co-op Bank now essentially worthless? Frances Coppola, a former banker who blogs at coppolacomment.blogspot.co.uk, says Yes. The Co-Op Bank is reaching the end of the road. Yesterday’s announcement that it is putting itself up for sale follows on from disclosure last month that it was facing a full-year loss for the third year running, and would fail to meet Prudential Regulation [...]
