When a bank fails in the United States, questions about who is to blame are often directed at many different regulatory agencies, because the system is complex and hard for outsiders to understand. In the wake of the collapse of Silicon Valley Bank, the case for an overhaul could not be stronger.
laments that the post-2008 Dodd-Frank reforms left in place a framework riddled with structural shortcomings.
The failures of Silicon Valley Bank and Signature Bank are significant market events. But, given an overheated labor market and 1970s-like inflation, if the Fed cannot see the whites of the eyes of a systemic banking crisis, then it must move aggressively on the inflation front.
urges the US central bank to continue raising interest rates, despite signs of financial-sector fragility.
欧盟各国财长在荷兰斯赫维宁根出席会议期间又一次面临对《稳定和发展合约》作出改革的必要。围绕着改革的一系列问题一直都悬而不决,引起争议,但这次财长们在桌子上摊了牌。
《合约》涉及的基本问题就是它必须在两个相互矛盾的目标间找到平衡:一方面它要能够继续削减大规模的债务累积,另一方面它必须给政府更多的尝试空间去实施体制改革和恢复欧洲的竞争力。很明显,对于这样的改革,《合约》是一个障碍。为了达到艰难的预算指标,欧洲国家的领导人浪费了很多政治精力和资本,而同时对于一些真正有挑战性的关键问题却没有采取任何措施:如,人口老龄化,高税负,日益削减的竞争力。
原因就在于这些体制改革长期看来是获益的,而短期却很耗资。最初,《合约》是针对那些目光短浅的政府,旨在保护欧洲公民的,而其结果却是导致了更加目光短浅的行为。
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