Breakingviews

Review: The politics of anti-inequality

By Edward Hadas
April 24, 2015

Anthony Atkinson's "Inequality" is a UK-centric manifesto to help the poor and restrain the rich. The Oxford academic's specific proposals are mostly sensible, but they dodge serious questions about the role of the welfare state and the balance of national and global justice.

Europe’s credit boom locks in mediocre returns

April 16, 2015

Investors are throwing money at European companies. Carrefour and Danone paid little over 1 pct a year to borrow for a decade; Novartis got 20-year funds at similar levels. A Breakingviews calculator shows how bond buyers’ generosity could backfire.

Greece comes kicking and screaming to reform table

April 2, 2015

The Syriza government’s latest reform proposals include some concessions to its public creditors. The plan still lacks detail, and reneges on past promises. The government is fiddling while Athens burns, and the risk of an accidental euro zone exit is rising.

Review: Money, theft and death in Putin’s Russia

By Edward Chancellor
March 6, 2015

Bill Browder's grandfather was an American communist. The grandson ran a hedge fund which profited during the chaos under Boris Yeltsin. But Browder did not reckon with the hard men of the Putin regime. His book offers some sobering lessons for investors in emerging markets.

India’s infrastructure push could be envy of West

March 2, 2015

The government has pushed back its deficit reduction target in order to boost spending on roads, rail and power. New Delhi is now unmistakably pursuing a public investment-led growth strategy. It’s an opportunity that rich nations, which can borrow far more cheaply, are missing.

Review: What the Great Depression taught the Fed

By Guest Contributor
January 30, 2015

Ben Bernanke is an expert on the famous crash. But Barry Eichengreen argues in his new book that the Fed boss during the 2008 crunch hadn't learnt the lessons of the boom preceding the bust. Bernanke's knowledge helped with crisis management, but it is too early to say how much. 

Italy gets its mojo back – at least in Davos

January 23, 2015

After keeping a lower profile as its economy contracted, the actual sick man of Europe struck “la bella figura” at the WEF annual meeting. The youthful Renzi government’s disruptive style put a spring in the step of Italy’s business leaders. Real reform, however, is only beginning.

Merkel subjects Greece to risky tough love

January 8, 2015

The German chancellor wishes to keep the euro zone intact – while playing up her indifference to the prospect of Greece leaving it. She just wants to make sure the next government in Athens will back reforms. That’s the only way to make a deal politically acceptable in Berlin.

Centre-left may have UK election edge

January 5, 2015

Britain’s three main parties are weak. Its two nationalist groups are stronger. The economy might help the in-power Tories – or give voters confidence to swing left. If they also want public spending, a new Breakingviews calculator suggests a Labour-led coalition could win sway.

Bad ideas catching up with Latin America in 2015

December 29, 2014

For four years, the region has mostly lagged world economic growth. The IMF predicts another year of the same. While Pacific-oriented countries will shine, Brazil, Argentina and Venezuela will suffer. With a couple of exceptions, misguided policies are coming home to roost.