Why the Fed should not prevent a US recession

By: Paul de Grauwe, K. U. Leuven

The US needs a higher savings rate. There is no way around it.

Is US inflation at 8%?

By: Wolfgang Münchau

Some estimates suggest that we are consistently underestimating the rate of US inflation. While I am largely agnostic on this particular issue, I strongly believe that we need a debate about how we measure prices. (Note to readers: The guestbook entries are working again.)

Overview of December events in EU Financial Services

By: Graham Bishop

Graham Bishop presents his analysis and views on the latest developments in EU financial legislation.

The Decoupling of Decoupling

By: Satyajit Das

The de-coupling theory is deeply flawed. In the “de-coupling” orthodoxy, equity is the new debt; emerging markets are “safe havens”. De-coupling assumes strong corporate earnings and healthy balance sheets. The credit crunch is a “financial” crisis that does not imperil the “real” economy.

Plumbers and Visionaries: The role of the European Central Bank

In the second extract of his book Plumbers and Visionaries Peter Norman tells the story of how the European Central Bank got involved in the securities settlement business.

Plumbers and Visionaries

Eurointelligence is proud to present a two-part extract from Peter Norman's latest book, Plumbers and Visionaries, recently published by John Wiley & Sons, Ltd. Plumbers and Visionaries - Securities Settlement and Europe's Financial Market (ISBN 978-0-470-72425-5) is the story of the European clearing and settlement industry - the plumbing of our financial system - and as such a critical part of the narrative of European financial integration. The first part explains how this industry works. The second part, to be published later this week, tells the story of the Target2Securities controversy.