Europe

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EPA/Justin Lane

Is world government the only hope?

Surveying the current world order, one might be forgiven for thinking that it is essentially ungovernable. Chaos, conflict and crises seem to be the order of the day. The phrase “international order” seems…
In bank stress tests, what’s worse: runs or lemons (the other kind)? Lemons via www.shutterstock.com

Runs versus lemons: why US bank stress tests succeeded while Europe’s failed

US regulators chose to reveal detailed information to the public about the state of the banks. They were able to be so transparent, without triggering a run, because of a strong fiscal backstop.
EPA/Karl-Josef Hildenbrand

Poor old Europe

When the International Monetary Fund (IMF) criticises the European Union’s policies toward Greece as too harsh and threatens not to co-operate, we should pay attention. The IMF, after all, has developed…

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