How abnormal was the stock market in October 2008?

By: Paul De Grauwe, Leonardo Iania, Pablo Rovira Kaltwasser

Last month saw a stock market move with a probability of occurring only once in 73,357,946,799,753,

900,000,000 years. What does this tell us about modern finance?

The depression of 2009

Wrong government policies on both sides of the Atlantic are turning a crisis into a catastrophe.

No single tactic will beat the subprime crisis

By: Wolfgang Muenchau

The subprime crisis is a massive macroeconomic shock in need of a determined policy response. But what kind? It will probably not require a symmetrical response across countries and policy instruments but a more targeted strategy

The end of the Irish boom

By: Marc Coleman

The Irish housing market is headed for a big downturn. This was expected to happen at some point, but it is becoming political problem for a government that has promised too much.

The coming house price crash in Europe

By: Wolfgang Münchau

The house price booms we have observed in recent years would not have been possible without a credit boom. The collapse in credit will thus have serious repercussion not only on the property market in those countries, but also on economic growth.

What has gotten into Mervyn King?

By: Eurointelligence ECB Watch

The day after Mervyn King lectures the ECB about moral hazards, he bails out a reckless mortgage lender. The govenor and his central bank now look like fools.