The Great Debate UK

Budget background: Dark with light patches

March 17, 2014

–Laurence Copeland is a professor of finance at Cardiff University Business School. The opinions expressed are his own.–

Thanks, Greece

May 22, 2013

–Laurence Copeland is a professor of finance at Cardiff University Business School. The opinions expressed are his own.–

How do you police without a force?

April 25, 2013

–Laurence Copeland is a professor of finance at Cardiff University Business School. The opinions expressed are his own.–

Dear Mark

April 15, 2013

–Laurence Copeland is a professor of finance at Cardiff University Business School. The opinions expressed are his own.–

We are all Thatcherite now

April 10, 2013

By Laurence Copeland. The opinions expressed are his own.

As we remember the second greatest prime minister of the Twentieth Century, we quite rightly think first of her achievements. There is no need for me to recap those when they are being well covered in the Conservative press. They are best summarised by acknowledging, as some of the left wing press does, that we’re all Thatcherite now, and however much some folk might have their fun dancing on her grave, it’s a bit late now – she won, and their celebrations are in the end a tribute to the strength of the forces she overcame almost single-handed.

Cyprus deal means the cat is well and truly out of the bag

March 27, 2013

By Laurence Copeland. The opinions expressed are his own.

The German insistence that depositors in Cyprus must face a haircut marks a new and dangerous stage in the interminable death throes of the euro zone. Up to this point, the one unshakeable principle underlying all the bailouts on both sides of the Atlantic since 2008 had seemed to be that the value of bank deposits was sacrosanct, whether they were explicitly insured or not. Now, the cat is well and truly out of the bag. It will be clear from now on, even to the most naïve investor, that there are no longer any totally safe assets. The principle of caveat emptor applies to bank deposits as much as to second-hand cars or beef-burgers. If even deposit insurance is now conditional, the difference between insured and uninsured deposits is only one of degree of risk. It is amazing how calmly the markets have reacted to the new reality, but it would be foolish in the extreme to rely on their continued insouciance.

Budget day cheer is here again

March 19, 2013

By Laurence Copeland. The opinions expressed are his own.

Budget Day again, and the pressure on Chancellor George Osborne is rising ominously. There is little agreement about what needs to be done, but complete agreement that something has to change because the state of Britain’s economy is simply awful.

All pain, no gain for Germany

March 7, 2013

By Laurence Copeland. The opinions expressed are his own.

Whenever the question of the future of the euro zone comes up, you can always rely on someone (often a German) to say something like “Yes, of course the Germans don’t like having to foot the bill for the weaklings… but at the same time, they do get enormous benefits from having a fixed exchange rate. I mean, just look at their trade surplus. All those Mercs and BMW’s you see in Milan and Athens and…”

Don’t Mention the War!

February 18, 2013

–Laurence Copeland is a professor of finance at Cardiff University Business School. The opinions expressed are his own.–

Obama half-term report: must try harder in economics

January 22, 2013

–Laurence Copeland is a professor of finance at Cardiff University Business School. The opinions expressed are his own.–