The Great Debate UK

How will the Eurozone crisis end?

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-Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of “Verdict on the Crash” published by the Institute of Economic Affairs. The opinions expressed are his own. -

Back in 1997, when I wrote about the prospects for the forthcoming European Monetary Union, I said I expected something like the Greek crisis to end with a wave of bailouts of ClubMed countries, and I followed the situation through to what seemed its logical conclusion.

I guessed that Germany and the other surplus countries would realise they were caught in a can’t-beat-‘em-may-as-well-join-‘em trap. On balance, I think I stand by that forecast today.

The problem is of course that monetary union without fiscal union requires a willingness to leave member  countries to stew in their own juice when they become insolvent.

Breaking up banks is not so hard to do

-Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of “Verdict on the Crash” published by the Institute of Economic Affairs. The opinions expressed are his own. -

As far as I am aware, you cannot buy insurance against speeding tickets (please, someone let me know if I am wrong!).

The EU and the hedge funds: the vendetta goes on

You might have thought that, with the Eurozone in turmoil, the EU would have its hands too full to pursue its vendetta against hedge funds.

Far from it, the latest proposals are even more wide-ranging than most observers anticipated, involving the establishment of a Europe-wide regulatory authority with the power (presumably) to dictate to the FSA how to police the UK financial sector, restricting the ability of hedge-funds based outside Europe to sell inside Europe and making it hard for European investors to invest in the rest of the world’s so-called alternative investment vehicles.

A dangerous indulgence in post-electoral optimism

-Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of “Verdict on the Crash” published by the Institute of Economic Affairs. The opinions expressed are his own. -

It really is hard to resist the temptation to take a hopeful view of Britain’s new government.

Full-time results: they all lost the election

Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of “Verdict on the Crash” published by the Institute of Economic Affairs. The opinions expressed are his own. -

Could there have been a worse outcome to Britain’s General Election?

The result was disappointing for all concerned. The three main parties all did worse than expected, as did the nationalists. On the lunatic fringe, only the Greens have reason to rejoice – none of the others were anywhere near winning a seat.

The race for the premiership: high tension, low quality

Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of “Verdict on the Crash” published by the Institute of Economic Affairs. The opinions expressed are his own. -

“The most exciting race in years”. “It’s going to go down to the line.” “The old order has truly been upset.”

Financial Crisis Part II

- Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of “Verdict on the Crash” published by the Institute of Economic Affairs. The opinions expressed are his own. -

Hollywood would never allow a record-breaking disaster movie to go without a sequel. The same seems to be true of the 2008 banking crisis.

Punishing investment bankers: the nanny-state goes global

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Laurence_Copeland- Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of “Verdict on the Crash” published by the Institute of Economic Affairs. The opinions expressed are his own. -

In a previous blog, I expressed the fear that in the aftermath of the financial crisis we were going to see either the innocent punished or guilty men convicted of the wrong crimes, or maybe both.

Greenspan and the curse of counterfactual

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Laurence_Copeland-150x150- Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of “Verdict on the Crash” published by the Institute of Economic Affairs. The opinions expressed are his own. -

Suppose that, instead of appeasing Nazi dictator Adolf Hitler at Munich in 1938, Neville Chamberlain had taken Britain to war, what would today’s history books say about the episode?

Greece and the mythology of the EU

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Laurence_Copeland- Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of “Verdict on the Crash” published by the Institute of Economic Affairs. The opinions expressed are his own. -

The (probably temporary) resolution of the Greek crisis seems to have produced a result which was unexpected – by me, at least. For the first time in the history of the EU, the German taxpayer has refused to be sacrificed on the altar of European solidarity.

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