Larry Elliott

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

Cast your mind back three years to the heady days of autumn 2006. House prices were booming. Financial markets were bullish. The International Monetary Fund reported that global growth over a five-year period was at its strongest since the late 1960s.

In vain did the fund warn that there might be problems ahead – from over-exuberant banks, from high commodity prices and from the dangerous imbalance in the global economy between those countries that exported too much and those that exported too little.

So here’s the question. What, apart from a stonking great recession, has actually changed? Oil prices are higher than they were in late 2006, the banking system remains unreformed (and pretty much unrepentant) and the global imbalances remain untackled.…  Seguir leyendo »

Let’s hear it for Silvio Berlusconi. A bargain basement Benny Hill he may be, but the prime minister fonder of cavorting with young women than keeping promises to the world’s poorest countries has helped expose what a cynical shambles the G8 summit has become.

Officials say that this year’s shindig in L’Aquila will be the most pointless ever – and, believe me, that is saying something. It is up to the host country to set the tone for the meeting, which involves preparing an agenda and chivvying the other, reluctant, members of the club to sign up to a high-minded initiative to eradicate poverty from Africa, tackle climate change and fight the good fight against protectionism by completing the Doha round of trade talks.…  Seguir leyendo »