First published: The Sunday Times, 07/08/2011
The convulsions in world financial markets last week reflect weakening economic growth in America, Europe and China, the sovereign debt crisis in the eurozone and tensions in European banking markets.
It is important to see these developments as part of the aftermath of the 2008-9 financial crisis, particularly the huge amount of private and public debt reduction and destruction. So what is going on at the moment and how do we get out of this mess of indebtedness?….more
