Companies that provide insurance against bad debts are reducing their cover - in one example from 90% to 60%. Other companies, such as Atradius, are withdrawing cover for whole counties and that list includes Ireland. As Ireland is so keen on leading the way with gaurantees, maybe we could lead the way by guaranteeing payment for all goods and services bought from Ireland?
G20 heads forced to temper ambition
The focus of the article is on how we are likely to regulate the banks in future and a process for introducing new regulations. This feels like closing the door after the horse has bolted. I know at some point in the future the door will need to close, bit isn't the priority to find the horse? Then we need to get a headcollar on him, maybe by tempting him with a bucket of feed, and then we can, hopefully, get him back into the stable...Doubt cast on funds for Beijing boost
I have been asked all kinds of people over the last few years how dependant on exports they thought China was. If there was a slowdown in the US and Europe, would it significantly effect China. I got unsatisfactory answers, usually along the lines of "I don't know". A few felt China would continue to grow regardlesss of what else happened in the world.
Well to get the full answer, we are going to have to wait. China is still growing but at much lower levels than expected. It would seem that our global economy is so intertwined that nobody is recession proof.
Good Question Ma'am. But some people did see it coming
The Queen asked Luis Garicano of the London School of Economics "If these things were so large, how come everyone missed them?". Well some did, writes Alan Beattie in an entertaining reply to the Queen. "It gets dangerous when you treat economists as court necromancers, listening only to the ones you find congenial".
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