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The Great Crash (2007/8) ten years on – talking on BBC Radio 4’s World At One special program

  In this BBC World at One program dedicated to the Crash of 2007-8, I try, in the space of two and a half minutes, to explain why those momentous events, ten years ago, changed the world in a manner that it no longer makes sense in terms common prior to 2007. Of why I claim […]

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The Politics of Negative Interest Rates – Project Syndicate op-ed

  ATHENS – Objects of desire come at a cost. Only bad things, like toxic waste, have a negative price, the equivalent of a fee payable to anyone willing to make them disappear. Does this mean that negative interest rates embody a new perspective on money – that it has gone “bad”? [To read on, click […]

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The Greek Plan for Growth & Recovery: Two documents the Ministry of Finance tabled in May and June 2015

Now that Greece’s Third Memorandum of Understanding has passed (see here for my annotated version), after the SYRIZA government surrendered on 12th July 2015, it is perhaps of interest to compare the ‘Reform Agenda’ in that agreement with the agenda the Ministry of Finance had presented to the institutions on two occasions, in May and June […]

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Burst Greek Bubbles, Spooked Fund Managers: A cause for restrained celebration

The international press is replete with reports of how London-based fund managers were spooked when they heard of SYRIZA’s views on the nature of Greece’s conundrum and on the party’s intention to work towards a debt restructure and a re-orientation of social and economic policies toward social cohesion and economic growth. Here is my reply…

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Today’s Eurozone seen from an investor’s perspective – Keynote (audio)

On 30th October I was invited to address a meeting of German, Austrian and Swiss pension fund managers on how they should make sense of the Eurozone’s current state of play. In this keynote (click below for the audio and the accompanying slides) I present an explanation of the causes underlying the impossible dilemmas pension fund […]