RAPID RESPONSES June 7, 2012 Wins-consin [Re: Wisconsin victory threatens Obama’s November prospects, yesterday] As Ewan Watt points out, Romney’s victory in Wisconsin moves him from being seen as a GOP one percenter to being a credible threat to Obama. Until now he has been seen by many Republican voters as “not Rick Santorum” or “not Newt Gingrich” and by [...]
European banking union isn’t the solution to immediate euro crises June 6, 2012 WHATEVER new twist the Eurozone crisis takes, the answers always seem to be another union: economic, fiscal, political, federal – you name it. The latest in this long and somewhat misguided list is a banking union. The idea is simple: a deposit guarantee scheme and a bank resolution fund would be created at the Eurozone [...]
Republicans’ Wisconsin victory threatens Obama’s November prospects June 6, 2012 CNN’s exit polls predicted a 50-50 split. But it was ultimately a Badger State blow-out. Wisconsin governor Scott Walker – the man who reined in the public sector unions, cut taxes and turned a $4bn (£2.6bn) deficit into a surplus – leaves Democrats feeling despondent and Republicans galvanised for November, following victory on Tuesday night. [...]
Aussienomics: Big cuts, no QE, booming growth June 6, 2012 BRITS jealous of Australia’s weather, sporting prowess and wine will now have to add an Australian economic miracle to their list of gripes. Welcome to the world of Aussienomics. The country’s GDP growth of 4.3 per cent in the last year has come as Australia’s government cut spending by far more than Britain’s has. Round [...]
Is Sir Martin Sorrell, chief executive of WPP, justified in defending his £12.9m pay deal? June 6, 2012 YES Jeffrey Rosen WPP believes in rewarding performance. Sir Martin Sorrell’s compensation is 85 per cent performance related, with a five year co-investment plan which rewards only superior performance and requires him to take a financial risk rather than benefit from one-way options. Sorrell has no notice period, thereby ensuring no reward for failure. The [...]
RAPID RESPONSES June 6, 2012 Going Swiss [Re: Britzerland: The UK’s relationship with the EU needs some Alpine air, yesterday] I was so pleased to read Ruth Lea’s sensible article. I’ve long believed that the argument that we needing to be round the table of the EU to exert influence was totally spurious, especially because every other member state has a contradictory [...]
Britzerland: The UK’s relationship with the EU needs some Alpine air June 5, 2012 AS THE Eurozone staggers from crisis to crisis, it is time to take a longer-term view of the relationship Britain should be developing with the EU in the twenty-first century. Firstly, there is the idea that Britain should use its influence to “reform” the EU as a glorified trading relationship, along the lines of the [...]
A reminder of the ancient ties of the crown to the City June 5, 2012 IT WAS a magnificent spectacle on the river in 1662. On Saturday 23 August, Samuel Pepys records in his diary that King Charles II brought his new Queen, Catherine of Braganza, to London in a celebratory flotilla that almost paved the surface of the Thames: “Anon come the King and Queen in a barge under [...]
We have no obligations to future generations: They’ll be better-off than us June 5, 2012 DAVID Cameron and Nick Clegg visited a tractor factory last month to re-launch their coalition government. Defending the austerity policy to the workers, Clegg said that it was aimed at eliminating government debt by 2017. He claimed that we have a moral duty to “wipe the slate clean” for future generations. He is confused. It [...]
Has the Leveson Inquiry degenerated into a show trial of journalists and politicians? June 5, 2012 YES David Bowden Supposedly set up to curb the excesses of the scurrilous tabloids, Leveson increasingly resembles a soap opera for broadsheet readers than a public inquiry. Breathless reports of “flame-haired vixen” Rebekah Brooks, sinister French lobbyists and secret back-room meetings with the all-powerful villain Rupert Murdoch: it’s a cracking watch. Yet, voyeuristic thrill of [...]