The half-year results for Banco Espírito Santo are grim reading. It is, in a word, bust. What caused this disaster? And will the bank be rescued?
Sign In Close
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.
The growth in foreign ownership in the UK is something to be welcomed, not feared. Foreign firms increase competition and help disseminate new ideas as local firms copy business methods and innovation.
Director of the Centre for Economic Performance3 articles | View profile
Do the SNP really want independence? by @tomashirstecon: http://t.co/tJu68UXLeY
Incentives, innovation and growth - by @Frances_Coppola http://t.co/JKgsVp81Qc
How useful is economics? - by @Frances_Coppola http://t.co/IDKN81hnoQ
This week's Newsletter is live: China’s economy is bound up with Xi’s anti-corruption campaign - http://t.co/tbZYAUudz6
China’s economy is bound up with Xi’s anti-corruption campaign - by @georgemagnus1 http://t.co/04Vl8hDrZM