After my introduction, one senior official explained the German position on a banking union in just five words: “We do not want it.” I looked around to see a sea of heads nodding in agreement.
Category: Management
Fiscal Discipline in the Monetary Union
From the perspective of the centralised versus decentralised debate, it is immediately apparent that the compact is a decentralised solution of the US type, even if the decentralised solution is centrally imposed.
Learning to Love Volatility: Nassim N. Taleb on the Antifragile
Fragility is the quality of things that are vulnerable to volatility. Take the coffee cup on your desk: It wants peace and quiet because it incurs more harm than benefit from random events. The opposite of fragile, therefore, isn’t robust or sturdy or resilient—things with these qualities are simply difficult to break.
Fender Aims to Stay Plugged In
Fender, too, has had to contend with changing tastes and markets. Once it looked like the Pan Am of guitars, a storied name that might simply vanish.
Learning From Past Crises: Into The Safety Zone
There are limitations to what we can learn from the past, if the world has changed or the Eurozone is special. The Eurozone is special because individual countries cannot count on the central bank acting as lender of last resort to the sovereign. This makes self-fulfilling crises possible, since high spreads (say because of an expectation of Eurozone breakup) make sovereign defaults more likely.
Abnormal Capitalist 