Banking


14
Nov 11

Germany thanks the southerners

Saudi investment opportunities

Angela Merkel today gratefully acknowledged the southern European contribution to the euro. “Without the incorporation of those sunny southerners, the euro would be the deutschmark. It would have reached Swiss franc levels, ruining our exports,” she stated, while munching on sardinas at the opening of the Museum of Greek Siestas & Tax Evasion. “Instead, we have this delightfully devalued deutschmark, which has allowed our trade surplus to reach a three year high.”

As she flicked the tail of her flamenco-inspired suit, she thanked Germany’s fellow members in the EU and the Eurozone for being responsible for nearly two thirds of the country’s foreign trade. “Vielen Dank for being less competitive than us and buying our goods,” said Merkel, as she headed off for a week’s holiday in the newly opened Deutsche Acropolis Hotel in Athens.


24
Oct 11

London and Caracas: two sides of the same coin

Income inequality and the foreign conundrum

There are echoes of pre-Chavez Venezuela in the UK these days. A classic example of elite capitalism and the virtually insurmountable gap between the haves and have nots. In Caracas, the elite lived in guarded mansions in the Eastern hills of the city with bodyguards accompanying them everywhere. The benefits of decades of petroleum revenues never made it into the barrios of the Western hills of the city. President Hugo Chavez was the result.


15
Sep 11

Chinese banks vs UK banks

Base instincts kept at bay

As I jostled the respectable blonde next to me in order to move forward in the EasyJet queue at Rhodes Airport, the equivalent in August of a circle of Hell in Dante’s Inferno, I could quite see myself throwing bricks at a store front in the midst of the London riots in order to walk off with some loot. It would have been the Etro store on Bond street rather than Footlocker and its Nike trainers. Still, the veneer of civilisation in all of us is barely skin deep.


14
Sep 11

New era regulators and a passionate conversion

How tinkering may ruin bank boards

Take a look at the Financial Times, where Robinson Hambro authored an editorial on the Financial Services Authority and its excessive interference in the running of the boards of banks.

Or read the article in the text below:

The passion of the convert is a frightening thing. Be it former smokers who cast glances of derision at office staff puffing away on the pavement or, more specifically, the regulatory backlash on the back of the financial crisis, converts allow little room for a nuanced approach.