My verdict on the ECB and EBA's AQR and stress test results.
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Portugal's Espirito Santo Group shows that complex, opaque corporate structures with embedded banks create moral hazard and the risk of fraud.
Almost nobody actually understands how payment systems work. That is: if you “wire” funds to a supplier or “make a payment” to a friend, how does the money get from your account to theirs?
Acharya and Steffen (A&S), authors of “Falling short of expectations? Stress-testing the European banking system”, have written a confusing paper whose results are biased. Here's why.
Economics is a toolkit that enables better understanding of how people live, and how societies work.
Chief Economist6 articles | View profile
RT @Frances_Coppola: New post at @pieriaview. Goodbye, QE: hello, rate rises? Not so fast.... http://t.co/3gq8t3WRpN @tomashirstecon @azizo…
Britain is Swinging Toward Redistribution - by @azizonomics http://t.co/SN9WH8kwMK
Are the Eurozone’s fiscal rules dying? - http://t.co/EkkX4Kzf5c
European Stress Tests: not stressful enough - by @Frances_Coppola http://t.co/nN0ocrlhZH