Posts from Friday Jun 14 2013



– Dan Davies guest-posts at Pawel Morski’s joint about the IMF in GreeceRead more

That ’70s recession?

A pretty interesting paper, and conclusion, from the Bank of England’s External MPC unit on Friday — or at least one that should keep the debate going over the art/science of GDP revisions… Read more

Bye bye Tucker

Paul Tucker, one of the Bank of England’s deputy governors, is to leave a little early. From his letter:

I am grateful to you for agreeing that I should step down slightly before the end of my term as a Deputy Governor of the Bank of England but after I have been able to provide support to the new Governor in his first few months in office. As a member of the G20 Financial Stability Board, I have worked closely with Mark Carney for many years and I look forward to supporting him as he arrives at the Bank.

According to the Bank of EnglandRead more

Markets Live: Friday, 14th June, 2013

Live markets commentary from 

The (early) Lunch Wrap

Turkish PM steps back from confrontation with protesters || Bond sales dry up as interest rates rise || Fear Hester exit will speed RBS defections || LNG trade falls for first time in 30 years || Iran supreme leader urges large turnout in presidential elections || House prices in England and Wales top pre-credit crunch high || Rupert Murdoch filed for divorce || Ashley Bacon is JPMorgan’s new head of risk || “Naturally occurring” human genes cannot be patented, the Supreme Court ruled || Brazil acts after real hits four-year low || Hopes for G8 trade and tax deals dented || Germany seeks to halt EU-Turkey talks over handling of protests|| Markets wrap || FTAV’s latest Read more

A Greek bond raid – will it work?

And so FT Alphaville comes across “TENDER OFFER MEMORANDUM — INVITATION FOR TENDER IN RESPECT OF BONDS OF THE HELLENIC REPUBLIC”: the official launch of Japonica Partners’ eye-catching attempt to buy up to 10 per cent of Greece’s restructured bonds, in a kind of Dutch auction.

And there’s one very important point here. Read more

Further reading

Elsewhere on Friday,

– The properly formulated Bagehot rule and Greece.

– Guardians of Peru’s treasures.

– Get in the game CanadaRead more

The London 6am Cut


– America’s economy: the stealth boom.

– Jonthan Portes on UK immigration.

– Breakthrough with Honduran charter cities.

– What is neoclassical economicsRead more