Having your cake and eating it — Macroprudential policy

I’ve written before that, to some extent, macroprudential policy (policy aimed at reducing risks in the financial system as a whole as opposed to at individual institutions) can be seen as an attempt by central banks to both have…


Clausewitz & Jomini, Greece & the ECB

In a sharp piece of analysis this weekend Paul Mason drew on a military analogy to explain the opening moves in Greece’s negotiations with the Troika (the European Commission, the IMF and the European Central Bank).

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