The European Union has slipped the leash of democratic control. It is one thing to advance the Monnet Project by treaty creep and stealth directives. It is another to put questions of sovereignty to a popular vote and then refuse to abide by the outcome. 31 May 2009 The European Commission has unveiled far-reaching plans for a new EU regulatory machinery with binding powers. 27 May 2009 The US Treasury is facing an ordeal by fire this week as it tries to sell $100bn (£62bn) of bonds to a deeply sceptical market amid growing fears of a sovereign bond crisis in the Anglo-Saxon world. 26 May 2009 China has doubled its bullion reserves and left us in no doubt that it will spend more of its $40bn monthly surplus on hard assets rather than the toxic paper of Western democracies. 23 May 2009 But UK has some cards in its favour, writes Ambrose Evans-Pritchard 22 May 2009 Japan beware, crashes have a habit of bringing regime change 18 May 2009 Our delicious spring rally is nearing the limits. The 40pc rise on global bourses since March assumes that central banks have conjured away the debt overhang by slashing rates to zero and printing money. Nothing of the sort has occurred. Two thirds of the world economy will be in deflation by July. 11 May 2009 China warns monetary stimulus by Western governments risks setting off worldwide inflation and undermining bond markets. 07 May 2009 The City of London is on borrowed time. Great banking centres can prosper for 40 years or so after the host country has lost industrial leadership but then some shock or political upset exposes the fragility of it all. 04 May 2009 The EU's working age population will peak next year before tipping into decline for half a century 29 Apr 2009 The world is running out of capital. We cannot take it for granted that the global bond markets will prove deep enough to fund the $6 trillion or so needed for the Obama fiscal package, US-European bank bail-outs, and ballooning deficits almost everywhere. 26 Apr 2009 Leaders raise spectre of civil unrest after forecast of a slump bad enough to drive unemployment to 4.7m. 24 Apr 2009 The casual way the IMF overstated British bank losses by some £60bn, and then retreated after a call from the Treasury, does not inspire much confidence that the fund is ready for its fast-escalating role as the world's monetary overlord.Ambrose Evans-Pritchard
Ambrose Evans-Pritchard has covered world politics and economics for a quarter century, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, serving as Washington correspondent and later Europe correspondent in Brussels. He is now International Business Editor in London.
LATEST FROM AMBROSE EVANS-PRITCHARD
If the EU seems intent on a putsch then UKIP should give it a shove
Europe tightens regulatory noose on City
US bonds sale faces market resistance
Gold bugs at last have their perfect trinity
Britain is walking a tightrope
Asia will author its own destruction if it triggers a crisis over US bonds
Enjoy the rally while it lasts - but expect to take a sucker punch
China fears bond crisis
City in danger of falling victim to EU wiles and becoming another Antwerp
Europe's age crisis begins to bite
The capital well is running dry and some economies will wither
Germany warned of civil unrest and 1930s slump
Given its showing, shouldn't the IMF just pipe down?
Monday, 1 June 2009
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