Howard Davies, the first chairman of the United Kingdom’s Financial Services Authority (1997-2003), is Chairman of the Royal Bank of Scotland. He was Director of the London School of Economics (2003-11) and served as Deputy Governor of the Bank of England and Director-General of the Confederation of British Industry.
In all major economies, the so-called productivity puzzle continues to perplex economists and policymakers: output per hour is significantly lower than it would have been had the pre-2008 growth trend… read more
Brexit has set a hungry cat among the financial pigeons of the City of London. No one yet knows what kind of access to the EU’s single financial market UK-based firms will have, and European centers h… read more
As US President Donald Trump struggles to fill his administration with sympathizers who can help to transpose tweets into policy, financial regulation has entered a period of high uncertainty – and hi… read more
The 2008 financial crisis gave a big boost to the global standard-setters. But there are now dangerous signs that the commitment to strengthening global standards – indeed, to any common standards at … read more
Central banks’ large-scale quantitative easing takes them into uncharted territory, where the boundary between monetary and fiscal policy is blurred, and where negative interest rates create political… read more
In the wake of the 1953 workers’ uprising in East Germany, the playwright Bertolt Brecht dryly suggested that the government might find it easier to “dissolve the people and elect another.” It is a se… read more
It would not be surprising if, even a decade on, the IMF continues to be influenced by its failure to warn in good time that a global financial crisis – the worst in nearly 80 years – was a material r… read more
Central banks have been on a roller-coaster ride in the last decade, from heroes to zeroes and back again. Following the addition of a broad array of new supervisory functions over the past decade, th… read more
One of Prime Minister David Cameron’s four major demands of the EU is a national derogation from elements of the uniform rule book which the ECB is seeking to introduce in the eurozone to ensure a con… read more
