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About: robert

Robert Pringle is founder and chairman of Central Banking Publications, a financial publisher specialising in public policy and financial markets. Central Banking journal, which he has edited for 20 years, has subscribers in 120 countries including the great majority of the world’s central banks.

Recent Posts by robert

10-year retrospective: Lessons 7, 8, 9

7. Neglect of international causes This is the most fatal flaw, as it is the one least understood  by economists, governments or bankers. My interpretation of the crisis emphasises its international dimensions – not only in the rapid spread of the crisis but also in its root causes (see Lesson 3). Yet this perspective is…
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10-Year retrospective: Lesson 6

6. Expect more bad bankers and bad banks How has the state punished the financial industry for its crimes,  corruption and anti-social behaviour? By showering it with subsidies, privileges,  perks and by offering it protection from an angry public. And by reducing its profitability and capacity to change by piling new regulatory layers and requirements….
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10-Year retrospective: Lesson 5

5. Banking can only be reformed from within This is another unavoidable lesson. Banking has not been reformed by actions taken by the state, central banks or regulators since the crisis. Indeed they have set back the prospects for improvement. There were two main strands in the policy response to the crisis. One was monetary…
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10-Year retrospective: Lesson 4

4. The people will have revenge The countries worst affected by the financial crisis, the United States and especially the United Kingdom, have since experienced severe political turbulence. I believe this can be directly traced back to the financial crisis and the way it was dealt with by governments, central banks and the financial elite….
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10-Year retrospective: Lesson 3

Gradually, inch by painful inch, the central bankers are losing their clothes – the comforting ideology that has enveloped them like a warm garment for more than a generation. This is the ideology, or “regime”, of central bank independence and inflation targeting (CBI+IT). Oh, how shy they are! Look how they hold onto any scraps!…
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