Two transatlantic policy lessons for crisis management
30.09.2008
By: Wolfgang Münchau
This crisis holds two transatlantic lessons. The first, from Sweden, is that governments should recapitalise some, but not all, failing banks. The second is that you need to have a policy in place, and not rely on ad-hoc rescues. This is the euro area's specific problem.
Debunking the Paulson plan
23.09.2008
By: Wolfgang Munchau
The Paulson plan raises more questions than it provides answers. This is not just about whether it works, but about its long-term economic effects, the impact on growth, and the future solvency of the US.
Fannie, Freddie and King Canute
16.09.2008
By: Satyajit Das
The problems at Fannie and Freddie, the need for recapitalisation and the reduction in leverage are symptomatic of the significant de-leveraging that is under way in the financial system. Governments and central banks can smooth the transition but they cannot prevent the adjustment.
Two scenarios for the financial crisis
07.09.2008
By: Wolfgang Munchau
There are two ways this crisis can development. The financial system will experience a systemic hit, or inflation might rebound. There are circumstances where both can happen.
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