Opinion
Oslo's lesson in restoring confidence
The lessons from Norway's response to the crisis in its banking system in the early 1990s have been under underappreciated.
Obama win promises to lift some of the gloom
Barack Obama's clear victory in the US presidential election opens a new chapter in America's history. The positive impact of this powerful signal of change on the economy and on central banking should not be underestimated, says Marco Annunziata, the…
Santiago SWF principles a reminder of bygone age
Charles Proctor, a partner at Bird & Bird, a law firm, assesses the International Working Group of Sovereign Wealth Funds' newly-published Santiago Principles.
The tragic mistakes of the central banks
As the print dries on the European and US bank nationalisation plans and praise is sung for the financial statesmanship behind these, it is important (at least for posterity) to draw attention to the fact that there was an alternative route back to…
Why failed bank executives must go
Senior management of banks that require public assistance should be replaced, says Robert Pringle, the editor-in-chief of Central Banking journal.
Worldwide cuts are not enough
The coordinated cuts by six of the most powerful central banks could prove a useful step in improving market sentiment. But only if it is coupled with more action at both a national and international level, Avinash Persaud, the chairman of Intelligence…
Without proper incentives we are doomed
The financial system cannot survive in anything like its present form if bankers continue to make profits and taxpayers assume the losses. Yet that is the trend, certainly in the United States with its ill-advised Paulson bailout, and increasingly in…
Fed deserves praise for online efforts
As the international financial system totters, the Federal Reserve banks are making full use of their websites to keep the public informed, says David Bowen, a senior consultant at Bowen Craggs, web advisers.
An offer they couldn't refuse
US Treasury secretary Hank Paulson's plan to buy troubled assets could prove the vital action in averting a financial meltdown. But only if the Treasury can take the right steps to put a floor under the market, says Claire Jones, the editor of Central…
Why now is the time for the UK to join the euro
Just when nobody is expecting it, now could be a good time for the British government to announce its intention for the UK to join the euro area, says Robert Pringle, the editor-in-chief of Central Banking journal.
Bank rescue - or protection racket?
Will 19 September 2008 go down in history as a day when wise and courageous politicians took the steps necessary to rescue the global banking system, or as the last throw of the dice? Maybe neither of these - maybe it will be remembered just as another…
Fed will shun Mishkin's call for explicit goal
Despite Frederic Mishkin's rigorous advocation, much stands in the way of the departing governor's wish for the Fed to adopt an explicit inflation goal. But it may not need to, writes Claire Jones, the editor of Central Bank News.
Case for covert special liquidity support opaque
Michael Foot, a former executive director for supervision at the Bank of England, weighs up the pros and cons of allowing the Bank of England to lend in secret.
How to put the City into financial stability
Michael Foot, a former executive director responsible for supervision at the Bank of England, suggests ways to limit potential conflicts of interest in appointing City of London bankers to the new Financial Stability Committee at the Bank.
The role of central banks in financial stability
At a time when many governments and central banks are struggling to distil the key lessons of the crisis, one of the main finding is that the central bank needs the appropriate powers if it is to assume responsibility for systemic financial stability.
Masaaki Shirakawa for governor?
Masaaki Shirakawa, newly-appointed acting governor of the Bank of Japan, is in the frame for promotion to the top job. He certainly would make the ideal candidate for the position.
How history will judge Fukui
Fukui's term at the helm of the Bank of Japan should be seen as a success but the departing governor failed to fulfil his early promise, says Colin Asher, a senior economist at Nomura, an investment bank.
The EU's approach to SWFs is commendable
The EU Commission's proposal for sovereign wealth fund policies are to be welcomed, says Norbert Walter, the chief economist of Deutsche Bank Group. And it is in the interests of the funds themselves to support this course.
The BIS must become the global central bank
Last year's attempts at central bank coordination fell short, says Krzysztof Rybinski, a former deputy governor at the National Bank of Poland. A global forum is needed.
Obituaries: Terry Smeeton
Terence Smeeton, born 5 July 1942, died 12 September 2007.
Obituaries: Stephen Frowen
Professor Stephen F. Frowen, born 22 May 1923, died 21 December 2007.