Author Archive

Resilience Roundup

  Land for gas: Merkel and Putin discussed secret deal could end Ukraine crisisMargareta Pagano, The Independent Germany and Russia have been working on a secret plan to broker a peaceful solution to end international tensions over

Accounting rules for banks: Freedom to fudge

FOR nearly a decade Spain has resisted the received wisdom, and European regulations, on accounting. In 2005 the European Union required all of its members to adopt IFRS, the dominant accounting standard outside America. One of the

The euro-zone economy: Losing the plot

AS IN a complex film script, at least two storylines have been in play for the euro zone this year. One is brightly lit, featuring the revival of both consumer and business confidence, the return of investors

Orwellian Newspeak and the oil industry’s fake abundance story

When what you are saying is so obviously at odds with the plain truth, it is useful to choose your words carefully to obscure this fact. This was the strategy of the Ministry of Truth, the propaganda

Free exchange: Competition, hammered

PICKING the price at which to sell a public asset is a daunting task. The political stakes are high: this week Britain launched a review of such sales after claims that Royal Mail, the postal service, had

Buttonwood: Neither liquid nor solid

WILL liquidity be the cause of the next great financial crisis? Recent problems in the obscure-sounding, but highly important, repo market may hint at the trouble to come. A repo, or repurchase agreement, is a short-term loan.

Renewable Energy Provided One-Third Of Germany’s Power In The First Half Of 2014

Thanks to favorable weather and record production from solar and wind power, renewable energy accounted for approximately 31 percent of Germany’s electricity generation in the first half of 2014. Non-hydro renewables made up 27 percent of the

BNP Paribas: Capital punishment

THE American guillotine has fallen. After lengthy negotiations, prosecutors and regulators announced on June 30th the penalties they planned to impose on BNP Paribas, France’s largest bank, for evading American sanctions on doing business with Cuba, Iran

Free exchange: Wealth by degrees

IS A university degree a good investment? Many potential students are asking the question, especially in countries where the price of a degree is rising, as a result of falling government subsidies. Recent research suggests that the

Restructuring sovereign debt: Busted flush

GOVERNMENTS have a long history of borrowing abroad and not repaying their debts. The first recorded sovereign default was in the 4th century BC when ten Greek cities failed to honour loans from the temple of Delos.