The French did it again. By recalling Christine Lagarde, who has served as managing director of the International Monetary Fund since 2011, from Washington and throwing her into the race to succeed Mario Draghi as head of the European Central Bank, French President Emanuel Macron effectively won the real power game in the competition for the top European positions after the May … [Read more...] about How Macron Won It All
Christine Lagarde
The Unthinkable as the New Normal
On June 28, 2015, the oldest international financial institution, the Basel-based eighty-five-year-old Bank for International Settlements, asked in its annual report a most pertinent question: “Is the unthinkable becoming routine?” The report pointed out that low interest rates “are the most remarkable symptom of a broader malaise in the global economy: the economic expansion … [Read more...] about The Unthinkable as the New Normal