Latest articles from Leaders

Welcome to the great macroprudential experiment

Until a countercyclical buffer has been deployed through an entire cycle, we have no idea how effective it will be. 

The UK is already ‘out’ of Europe

As the divide between eurozone and non-eurozone countries grows, the question of whether the UK should stay in the EU becomes less and less relevant.

IFRS adds new complications to accounting mix

The IFRS's latest attempt to simplify international accounting rules scores some small victories, but it also introduces a number of significant new problems into the accounting equation.

Does financial regulation have to be global?

Cross-border regulation of banks is proving increasingly difficult, despite the call for global regulation of the financial system. 

Fiscal mismanagement is hurting Africa

Countries in Africa, including Ghana, Kenya and Zambia, are battling with wide fiscal deficits brought about by grand spending plans. 

Back and forth and pari passu

The New York courts' interpretation of the pari passu clause could have serious implications, not just for Argentina, but for sovereign restructurings the world over.

US sanctions are the start of a slippery slope

The US sanctions regime will drive business into the shadows and accelerate the growth of alternative trading currencies.

Size matters in assessing systemic risk

​For years the conventional thinking was that economies where banking assets fell below the level of GDP were emerging whereas economies with banking assets two or three times the size of GDP were acknowledged as advanced. That was before the crisis.

India's new prime minister faces banking test

There is a lot of hope pinned on India's newly elected prime minister Narendra Modi. But, with so many economic – not to mention social and political – problems to be tackled, can he live up to expectations?

European regulation: who’s in charge here?

A novice European parliament will be scrutinising how untested European regulators implement far-reaching new rules for the financial sector

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