b25e690446f86f380efcc928_jk869.jpg Jon Krause

The Market Confidence Bugaboo

Governments around the world are now cowering in fear of "market confidence" – that ineffable object of desire that makes officials impement policies they don't really believe in. Indeed, if the current crisis gets worse, it will be political leaders that bear primary responsibility – not because they ignored markets, but because they took them too seriously.

CAMBRIDGE – A specter is haunting Europe – the specter of “market confidence.”