Tag Archives: economics

Behold, the British establishment, panicked – Paul Mason, BBC Newsnight economics editor

The chairman resigns to save the CEO. The CEO makes a public threat to drag the central bank into the mire. And the previous government. And the Treasury. Next morning, the CEO resigns and the chairman re-installs himself to “oversee transition”. … Continue reading

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Sir Mervyn King calls for bank culture change

Britain’s banks need a ???real change in culture??? following a series of scandals that have rocked the industry, Bank of England governor Sir Mervyn King said today. Sir Mervyn’s comments came as Britain’s biggest lenders were embroiled in fresh … Continue reading

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UK economic outlook getting worse, warns Bank of England

A sharp deterioration in the outlook for the global economy over the last six weeks provoked Bank of England governor Mervyn King to back an extra ?50bn of quantitative easing, MPs heard on Tuesday, adding to the gloom surrounding the UK’s prospec… Continue reading

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UK government borrowing higher than expected as income tax receipts fall

ONS figures showing borrowing of ?18bn in May ??? up from ?15bn in same month in 2011 ??? are blow for George Osborne Britain’s public finances sank deeper into the red last month as weaker tax receipts from the recession-hit economy depleted the … Continue reading

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David Laws calls for cut in state spending

Mr Laws said the Liberal Party’s founding fathers would have been shocked by spending levels State spending is too high and likely to be leading to “waste and inefficiency”, ex-Liberal Democrat Cabinet minister David Laws has said. Mr Laws said th… Continue reading

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Why can’t Europe be more German? Slower, growth-friendly action…

When discussing the German role in the euro-crisis these days in Berlin, relevant policymakers usually argue that Germany is willing to do all it takes to save the euro. When guests from abroad raise their eyebrows (as they might have perceived th… Continue reading

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It’s not a case of austerity v stimulus for Europe – Paul Haydon

Calls for a more growth-led approach dominated last week’s informal EU summit, but European leaders made little progress in the ongoing discussions over the best way to overcome the economic crisis ??? and stalled over disagreements about eurobond… Continue reading

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Paul Krugman attacks Britain’s austerity drive as ‘deeply destructive’

Nobel prize-winning economist says austerity policy is failing and coalition should be increasing spending instead of cutting it Paul Krugman said the coalition’s austerity plan was ‘failing dismally’. Photograph: Bob Strong/Reuters Nobel prize-wi… Continue reading

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Five steps to end global tax evasion

Rarely have politicians and business leaders met at Davos against such a gloomy backdrop. The World Economic Forum (WEF) helped to set the tone this month when it issued a chilling dystopian vision of mass youth unemployment, wholly inadequate eld… Continue reading

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Amazing NYT graphic details the US economic disaster (and probably the UK’s too)

via nytimes.com Continue reading

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