There are a number of reasons why the eurozone might disintegrate and many of them are historical. First, is the way the currency bloc was originally constructed – as a currency union that lacked either an economic or a fiscal union (by the way, I am not aware of any previous currency unions lasting very long without being reinforced by the other two, but correct me if I'm wrong).
Anticipation is mounting as the global banking industry awaits the implementation of new game-changing financial regulations. Although implementation of the changes brought about by the Dodd-Frank Act and Basel III will occur over several years, banks must start modifying their risk management, capital adequacy and stress testing programs now in order to ensure stability and facilitate compliance in the long term.
In Part One we glanced briefly at Russia’s Mafia problem and at the unwholesome blending of Mafiosi with Russian business and political life and posed the question of what this means for the Russian economy.
There is a clear trajectory which companies in emerging economies follow when it comes to corporate governance. Many start out barely paying lip service to the concept while others are frankly criminal.
Much of the debate surrounding Wikileaks's release of confidential cables sent by US diplomats to their bosses in Washington D.C. has revolved around whether the whistleblowers' website is right or wrong to have selectively released some 1,000 of the 250,000 state department cables it has in its possession.
One of the many memorable lines in Casablanca, right up there with Lauran Bacall’s “You do know how to whistle, don’t you? You just put your lips together and blow,” is the policeman’s exclamation: “I’m shocked, shocked to learn that there is gambling going on,” just as his winnings are slipped into his pocket.
Regardless of your opinion about the existence and intent of Wikileaks perhaps the most surprising thing about the internal diplomatic cables that have been revealed to date is that they are not very surprising.
The pain associated with running a defined benefit (DB) pension scheme could not be more graphically illustrated than it is in the latest survey of European Pension Funds 2010 by actuaries Lane, Clark & Peacock.
This is the second of a two-part examination of the UK Financial Services Authority's (FSA) recent inadequate response to the collapse of the Royal Bank of Scotland (RBS). The FSA's choice of PwC as an “independent third-party investigator" to handle its inquiry into the pre-crash behavior of RBS raises questions about what sort of outcome the FSA wanted from this probe...
This is is the first of a two-part examination of the UK Financial Services Authority’s (FSA) recent response to the collapse of the Royal Bank of Scotland. The FSA’s obsession with “light touch” regulation from 1997 to 2008 did more than anything else to transform London into the “Wild West” of finance in 2000–08...