Breakingviews

Rob Cox: Rick Perry is running for the wrong job

July 30, 2015

The presidential candidate and ex-governor of Texas is a proponent of laissez-faire markets. Yet he has joined a global chorus of politicos and watchdogs pushing policies to break up the big banks. If he’s serious, he’d make a better Wall Street regulator than White House boss.

Malaysian crisis could do lasting financial damage

July 30, 2015

Prime Minister Najib Razak’s sacking of his deputy opens the door to a protracted power struggle. The economy can ill-afford it. Fading consumer and investor confidence and a slumping currency could mean a long period of high interest rates, anaemic growth and soured loans.

Varoufakis gives Greece the gift of a scapegoat

July 29, 2015

The former finance chief’s alarming tales of trying to hack state computer systems might be just what the debt-stricken country needs. Ask China, which has long recognised the value of a strategic purge. Rogue elements breed discord, but once expelled, they can create more unity.

Hugo Dixon: The optimist’s guide to Greece

By Hugo Dixon
July 27, 2015

There are so many ways things could go wrong in Greece that it’s easy to miss how things could also go right. The good scenario involves the ECB buying up Greek bonds, the lifting of capital controls and a deal on debt relief – all by year-end.

Tide flows against UK’s pro-EU campaigners

July 24, 2015

Polls right now suggest Brits want to stay in Europe. Yet the rough handling of Greece and a proposed transatlantic trade deal are alienating left-leaning voters. Meanwhile, potential sops to those worried by immigration are very unlikely to placate eurosceptics on the right.

Rob Cox: The world’s hardest central bank job

July 16, 2015

It’s not Yellen’s, Draghi’s or Kuroda’s. Russian central bank chief Elvira Nabiullina faces a unique bouquet of challenges. On top of a weak oil price and ruble, nettlesome inflation and Western sanctions, there’s Vladimir Putin. Under the circumstances, she deserves a medal.

Schaeuble looks immune to Varoufakis-style exit

July 16, 2015

Like his former Greek colleague, Germany’s finance minister has become a liability. After openly calling for Grexit and then questioning an agreed deal, he is not the man to lead future negotiations. The catch is German political realities mean Angela Merkel needs him.

Hugo Dixon: Greek deal leaves bitter aftertaste

By Hugo Dixon
July 13, 2015

Berlin was right to point out that Athens had lost Europe’s trust. But by pushing the Greeks so hard, Germany is also losing Europe’s trust. The summit’s eventual outcome is reasonably fair if tough. But both leaders, Merkel and Tsipras, need to work hard to rebuild trust.

Tsipras U-turn only lowers short-term Grexit risks

July 10, 2015

Greece’s latest bailout plan accepts most of what its July 5 referendum rejected. Creditors will have to actively want a Greek exit from the single currency for it to happen now. Yet fresh austerity, capital controls and Athens’ weak reform record mean the truce may not last.

Hugo Dixon: Greece will struggle to stay in euro

By Hugo Dixon
July 5, 2015

After the people gave an emphatic “No” to the creditors’ proposals, there are still several ways Athens could avoid the drachma. But none seems terribly likely. All routes will lead to further hardship.