MPS saga not just a local affair

By Hugo Dixon
January 28, 2013

The Monte dei Paschi di Siena saga is not just an Italian affair. Revelations that complex financial transactions used by the country’s third largest bank had the effect of hiding losses are causing a political storm in Italy.

UK faces five years of limbo-land

By Hugo Dixon
January 23, 2013

The UK faces half a decade of limbo-land. David Cameron’s promise of an in/out referendum on Britain’s membership of the European Union by the end-2017— provided he wins the next election – means an extremely long period of uncertainty for business. That will be bad for investment. It also heightens the risk of an eventual “Brexit” – a British exit from Europe – which would be even worse for the economy.

Hugo Dixon: When is it OK to avoid tax?

By Hugo Dixon
January 21, 2013

When is it OK to avoid tax? And when should taxpayers refrain from actions that will cut their bills, even if their actions are perfectly legal? 

EU positive contagion hinges on growth

By Hugo Dixon
January 14, 2013

Mario Draghi didn’t quite coin a new phrase last week. But the European Central Bank president certainly popularised the expression “positive contagion”. After years in which the euro zone has been suffering from plain old contagion – which doesn’t even need the qualifier “negative” – Draghi now thinks a positive dynamic is in play. 

The EU speech Cameron should make

By Hugo Dixon
January 7, 2013

David Cameron is planning a keynote speech on Britain’s relationship with the EU later this month. Here is what the UK prime minister should say.
 
 The euro crisis is forcing euro zone nations to rethink how they wish to run their currency union. It is also forcing European Union countries that don’t use the single currency, such as Britain, to rethink their relationship with Europe.