False Impressions.

Financial World, 1st December 2007 Financial markets are inherently unstable, says Andrew Smithers, and the view that corporate balance sheets are in good shape is an illusion. Financial markets are liable to shocks in many forms. Political and economic events are by...

Europe’s Banks Need More Capital.

The Nikkei Financial Daily (Market Eye Column)., 16th October 2007 England has just witnessed a run on a bank. Depositors, frightened of losing their money, queued outside the branches of the Northern Rock to withdraw their savings. The shock was tremendous. The UK...