Thursday, March 5, 2015
  1. A Fair Hearing for Sovereign Debt

    Joseph E. Stiglitz, ET AL

    A Fair Hearing for Sovereign Debt

    &  point out three key lessons of a British court's recent ruling on Argentina's interest payments.

    Gavel world globe earth Tori Rector/Flickr

    Last July, when US federal judge Thomas Griesa ruled that Argentina had to repay in full the "vulture" funds that had bought its sovereign debt at rock-bottom prices, the decision reverberated far and wide, affecting bonds issued in a variety of jurisdictions. Do US court rulings really apply to contracts executed in other countries? READ MORE

  2. New Equities for Infrastructure Investment

    Justin Yifu Lin, ET AL

    New Equities for Infrastructure Investment

    , ET AL 1

    , ET AL  propose the creation of a new asset class to facilitate investment.

    London Underground planning model Phil Whitehouse/Flickr

    Though infrastructure projects are among the most productive investments a society can make, existing asset classes fail to provide the structure needed to compete with traditional equity or debt. That is why economies would benefit from a new asset class that could harness the potential of private money for public infrastructure. READ MORE

  3. The Deflation Bogeyman

    Martin Feldstein

    The Deflation Bogeyman


     points out that the much-feared downward price spiral remains an unproved theory.

    hallway door bogeyman Tim Pierce/Flickr

    The world's major central banks are currently obsessed with the goal of raising their national inflation rates to their common target of 2% per year. But how justified is their fear that a negative demand shock could trigger a downward price spiral? READ MORE

  4. Competing on Corporate Tax

    Laura Tyson
  5. Europe’s Chimerical Capital-Markets Union

    Howard Davies

    Europe’s Chimerical Capital-Markets Union


     pours cold water on the potential impact of the European Commission's newest adventure.

    Europe castle hot air balloons

    At a time when Europe’s currency union is at risk, and its banking union remains at an early stage of development, the endlessly creative European Commission is embarking on another adventure: a so-called “capital markets union.” Given the current political climate, the new initiative is unlikely to have a transformational impact. READ MORE

Focal Point

239 pages
239 pages

Commentaries available in 12 Languages