Investors face large potential losses under German plans likely to win EU backing – risking a boycott of Greek, Irish, and Portuguese bonds. Public spending increased by 50 per cent in real terms under Labour, says Jeff Randall. Vince Cable's proposals to kick start local growth are a positive set of ideas. Quantitative easing will do little to secure the recovery, says Jeremy Warner. Our Rebuilding Confidence series has touched a nerve across the UK. Mervyn King, lest we forget, is Governor of the Bank of England. The "Old Lady of Threadneedle Street", as the Bank is known, is about to take back from the Financial Services Authority responsibility for ensuring the stability of UK banks. Regular readers should be in no doubt about my views on the weakness of our immediate growth prospects, yet there is a danger of getting our current economic predicament out of perspective. There are good reasons to be confident about the British economy's medium-term future. There is a certain amount of unease in the City this weekend over a number of the recommendations from the Takeover Panel's code committee on the new rules of the financial game. Britain's firms prevented a deeper recession, and are now dragging us back to growth, says Tracy Corrigan. The US stock market struggles to generate the same sort of interest as the readily understandable and exciting emerging markets narrative. Maybe it's just a clever wheeze to drum up extra business for the posties. You know, the Government wants to privatise the Royal Mail. So, thinking laterally, it ends universal child benefit. The old pension model was unsustainable and it is now a case of everyone for themselves.Comment
The sharpest comment and analysis from the top columnists on UK and world finance news.
EU 'haircut' plans rattle bondholders
Let's remind Ed where the deficit came from
Local growth is good but we must liberate our cities to set recovery free
Mervyn King must turn off the printing press
All eyes turn to the 'printing money' issue
Mervyn King makes a stand for reform as banks seem intent on forgetting
And now the good news for UK plc
Takeover Code changes: the right price is now only the start
How business steered us through the storm
A must week in the US markets for investors
Child benefit change sends wrong message
We have to kick our apathy about pensions into touch
Sunday, 31 October 2010
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