Tag Archives: Bini-Smaghi
Are the political conditions for reform out of reach?
Three major failures contributed to the global financial car crash • There was a failure of banking and bankers – imprudence and irresponsibility, tinged with instances of criminal behaviour, insider trading, mis-selling, deceit and fraud; • There was a failure of central bankers – they were seduced into assuming the self-stabilising properties of markets,…
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Iceland, not Ireland, is the model for Cyprus
Ex ECB board member Lorenzo Bini-Smaghi has a piece in tomorrow’s FT where he says Ireland is the model that Cyprus should follow. Really? To be sure, Ireland has done well. But there is a better example – from outside the eurozone. It’s Iceland, not Ireland, that has pioneered the way for small…
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