Is Nobel Prize-winning economist Joseph Stiglitz right that Europe may have to abandon the euro to save the European project? Ruth Lea, economic adviser at Arbuthnot Banking Group, says Yes. Granted, some may regard the common currency as an intrinsic part of the “European project”, but the euro is undermining the very foundations of a prosperous and peaceful union for all its members, which is surely what the European project is fundamentally about. And it is [...]
With monetary policy in the frame at Jackson Hole this week, are negative interest rates a looming disaster? Ben Habib, chief executive of First Property Group, says Yes. Since the late 1980s, the principal weapon used against economic setbacks by the central banks of western developed economies has been ever looser monetary policy. This approach initially worked well, serving to support both real economies and asset prices. Those of us who were lucky enough [...]
