Opinion/Financial Stability
Initial optimism on Greek bailout may falter
Marco Annunziata, the chief economist at UniCredit, examines the reaction to, and implications of, the Greek bailout
The forces of darkness overwhelm bank reform
Banks’ lobbying and politicians’ arguments against the Dodd regulatory reform bill are lamentable, Robert Pringle writes
European monetary fund won't pay
Marco Annunziata, the chief economist at UniCredit, argues against the creation of a European monetary fund
A welcome return to money
Central banks’ renewed in interest in the importance of money is to be applauded. But they must also consider the right money measure and how changes should impact policy, Gabriel Stein argues
Three things you should know about Chiang Mai
The Chiang Mai initiative has cemented Asian financial stability. Jayant Menon, a principal economist at the Asian Development Bank, highlights three key themes to take from the project
Eurozone may need to rethink strategy on Greece
Brussels and the European Central Bank have underestimated the potential for contagion from Athens’s fiscal woes, argues Marco Annunziata, the chief economist at UniCredit
Separating the casino from the retail bank will not work
A division between investment and retail banking will not prevent future financial crises, Clive Briault, the founder of Risk and Regulation Consulting and a former managing director at the Financial Services Authority, argues
FSA’s Turner is right to push for a Tobin tax
The financial sectors in mature economies grew too large in the run-up to the crisis. A Tobin tax can help prevent this from happening again, argues Costas Lapavitsas, a professor at the School for Oriental and African Studies
A cynical view of the 2009 IMF/ World Bank meetings
Robert Pringle, the chairman of Central Banking Publications, sums up this year’s gathering in Istanbul
Communication in a crisis: some thoughts for central bankers
Citing the case of Northern Rock, Geoffrey Wood, a professor of economics at Cass Business School, calls for central banks to better prepare for their communications on financial stability
Yam has secured his place in history
As Joseph Yam prepares to depart, Tony Latter, a former deputy at the Hong Kong Monetary Authority, assesses the chief executive’s time at the helm of the territory’s financial authorities
Sanusi’s crackdown should be applauded
Central Bank of Nigeria governor Lamido Sanusi’s rescue of five undercapitalised Nigerian banks was the right move, argues Razia Khan, the head of research for Africa at Standard Chartered, a bank
De Larosière for long-term value and economic stability
A near-term focus dominated policy, regulation, accounting standards and governance in the run up to the crisis. It cannot last, writes Jacques de Larosière.
Some thoughts on where global finance is heading
An event in Peru earlier this month addressed some of the key questions concerning the international economic order in the aftermath of the crisis.
Will Dr. Gloom and Dr. Doom’s Next Domino Fall?
The current plight of Latvia and its Baltic neighbours is far different from Argentina’s in the early part of this decade
The Tories’ plan for sound banking
Robert Pringle, David Mayes and Michael Taylor, the editors of Central Banking’s Towards a New Framework for Financial Stability, give their reaction to Conservative plans to rebuild UK regulation
Washington's timetable for regulatory reform
Patton Boggs, a law firm,sets out how and when Obama's proposals for US financial regulation reform will become law in 2009
A feeble response to an unprecedented crisis
Officials have failed to deliver on their promises of a regulatory overhaul. It is a pity, writes Robert Pringle, the chairman of Central Banking Publications.
Our outdated global monetary regime must go
From its roots in post-war reconstruction, the current international monetary system has evolved into a regime fundamentally unsuited to the realities of today's global economy. But it cannot last, writes Ousmene Mandeng
A guide for an ideal communique
For Marc Uzan, an executive director on the Reinventing Bretton Woods Committee, the perfect G20 communique would note the long-term ramifications of the crisis.
A solution to the reserves riddle
There has been an anomaly between what is in the national interest and what is in the global interest on the issue of reserves. However, this does not have to be so.