The ECB and the Fed

By: Charles Wyplosz, Graduate Institute of International Studies

Facing different situations, the Fed and the ECB muddle through, each in its own way.

Ben's depression

By: Wolfgang Münchau

A return to a monetary policy to stabilise prices ended the Great Depression in the 1930s. This time it will work the other way round. Once the Fed is forced back onto a path of price stability, our depression will begin.

The Credit Default Swap ("CDS") Market – Will It Unravel?

By: Satyajit Das

CDS contracts may not actually improve the overall stability and security of the financial system but create additional risks.

Better TED than Dead! – The Tale of Inter-Bank Rates

By: Satyajit Das

Swap spreads will continue to be under pressure and remain volatile until the underlying credit risk conditions in the bank market change.

The Credit Crunch – In 2008 The Worst May Keep Getting Worse

By: Satyajit Das

2007 may come to associated with the start of the "big" credit crunch. 2008 has begun with a number of "unresolved" items. Hope of an early resolution seems to be fading. In the words of Lily Tomlin, the American comedian: "Things are going to get a lot worse before they are going to get worse."

Getting desperate

There is clear blue water between us and the Americans