Aditya Chakrabortty

Nota: Este archivo abarca los artículos publicados por el autor desde el 1 de mayo de 2009. Para fechas anteriores realice una búsqueda entrecomillando su nombre.

‘This is what the noble European project is turning into: a grim march to the bottom. This isn’t about creating a deeper democracy, but deeper markets.’ Photograph: Matt Kenyon

Nearly every discussion of the Greek fiasco is based on a morality play. Call it Naughty Greece versus Noble Europe. Those troublesome Greeks never belonged in the euro, runs this story. Once inside, they got themselves into a big fat mess – and now it’s up to Europe to sort it all out.

Those are the basics all Wise Folk agree on. Then those on the right go on to say feckless Greece must either accept Europe’s deal or get out of the single currency. Or if more liberal, they hem and haw, cough and splutter, before calling for Europe to show a little more charity to its southern basketcase.…  Seguir leyendo »

Gavyn Davies: Quit stalling on capital reform

Although banks often get carried away by a reckless search for short-term profits, they are not stupid enough to ignore the near-death experience of September 2008. The best hope for reform is that the large institutions see it as being in their own interest to rein in risk. However, in case memories are indeed short, governments need to agree on a system in which the capital requirements imposed on the banks are increased as lending and asset prices rise during the next boom. This is a much better way of preventing excessive risk-taking than political grandstanding on pay, (which is annoying but not the core of the problem) or the FSA idea of a Tobin tax on all financial market trading (which hits the wrong targets).…  Seguir leyendo »