(Any opinions expressed here are those of the author and not necessarily those of Thomson Reuters)
Companies in the 21st century can learn from 13th century England. Overmighty, overpaid CEOs are the new King Johns held to account, sort of, by the barons of fund management. What’s needed is more respect for finance’s neglected yeomanry: ordinary savers. Financial fiefs should be subjected to a modern Magna Carta.
An interesting weekend intervention by ECB policymaker Yves Mersch who said there was no question of winding up QE early and that inflation, still skulking around zero, would stay there until autumn then rise sharply late in the year towards 1.5 percent.
Alexis Tsipras is not for turning, not yet anyway.
Speaking in parliament on Sunday night the new Greek premier said he would not accept an extension to Greece's current bailout, something the euro zone is urging him to do, and stuck with austerity-ending pledges such as giving free food and electricity to those who need it, reinstating civil servants who had been fired as part of bailout conditions and raising the minimum wage. Privatisations have already been halted.