Reforms proposed after the fintech scandal will not be enough to fix a shaky banking sector.
Germany looks at a solid, but uneven economic rebound from the pandemic, largely based on a pronounced home bias in economic activity.
Donor governments do not have to fund poor country debt relief from their fiscal budgets. They can tap long-unused reserve assets available at the IMF called Special Drawing Rights (SDRs).
With regard to the EU’s own financial resources, Europe is taking another page from U.S. financial history.
Corruption is bad today, but bound to get worse. Governments’ response to the COVID 19 pandemic amplifies the opportunities for abuse.
Even the biggest supporter of the EU at times has to pause and ask why it is so keen on double standards. It blacklists poor African countries for money laundering, not rich countries.
Argentina has defaulted on its debts, again. Will the IMF and investors be merciful?
As long as the Wall Street triumphalists’ unreflected “why worry?” thinking remains the norm, the urgently needed pursuit of a U.S. economic reform agenda will go nowhere.
The day when Fed Chairman Jerome Powell rode in to rescue financial markets to prevent their complete freezing up could have entered our history books as another global mega-crash.