Comment, analysis and other offerings from Monday’s FT,
Frederic Mishkin: In praise of an explicit number for inflation
Former member (governor) of the board of governors of the Federal Reserve Frederic Mishkin explains why adopting an explicit, numerical inflation objective is exactly what is needed right now to help the US economy to recover.
France, Germany and fissures in the Eurozone
David Marsh, chairman of London & Oxford Capital Markets, says international challenges spell good and bad news for the European Central Bank. On the positive side, the credit crisis has given the independent ECB and Jean-Claude Trichet, its president, unexpected authority on the world stage.
Satyam’s wake-up call for corporate India
Sandeep Parekh, former executive director of the Securities and Exchange Board of India, writes that the first thing he did when he saw the infamous letter of B. Ramalinga Raju of Satyam Computers confessing to a $1.4bn fraud, was to compare the initials on the letter with his signature in the 2008 annual report. They did not tally even remotely.
Maverecon: Quantitative and Qualitative easing again
Just in case you didn’t get it in his previous blog posting, Willem Buiter, former MPC member, explains how the Bank of England has already started “printing money”.
Editorial comment: Gas crisis has to power EU reforms
The EU must now put effort into implementing much-discussed energy reforms to limit the risks of a future supply shock again threatening the health and even the lives of its people.
Lex on fair value accounting
The basic principle – mark balance sheet items at the price they would fetch in the open market, rather than what you paid for them – should be upheld.
Lucy Kellaway has a cool reaction to colleagues’ colds
My theory is that colds are bad this year because of the recession, which lowers our spirits and makes us feel dispensable at work. In this state, our bodies are subconsciously waving and beckoning to any cold virus going, saying: over here.