One of the major downsides of the 2008 financial crisis has been the emergence of so called "macro-prudential" regulation. This sort of regulation, hoping to limit systemic risk in the banking sector, is fashionable but signals a return to the 1970s mentality of economic fine-tuning, albeit with different tools. Read more
Last week, I wrote about how the euro crisis had been put on hold until the German federal election (A euro crisis on German ice, July 18). One of the policies affected by this crisis deferral is the European Union’s so-called banking union. Read more
One of the major downsides of the 2008 financial crisis has been the re-emergence of ‘macro-prudential’ regulation. This sort of regulation, hoping to limit systemic risk in the banking sector, is currently fashionable but signals a return to the 1970s mentality of economic fine-tuning, albeit with different tools. Read more
Auckland’s population is projected to be well over two million by 2041. This will place enormous pressure on road and transport infrastructure. Read more
A few weeks ago, I spoke at a breakfast event opened by Maurice Williamson, Minister for customs, Statistics, Land Information and Building and Construction. I wish I had taken the Minister’s remarks more seriously, as I would have been less surprised by the government’s announcement last week: the government is considering options to make credit card companies and online payment services like PayPal collect taxes on online shopping imports. Read more
After decades of shadow boxing and talking about it, the prospect of a trans-Atlantic free trade bloc is a big step closer. On July 8, formal talks began for a US-EU free trade zone, the largest free-trade agreement ever negotiated. Read more
General elections are meant to pick a government and election campaigns to discuss the most important issues facing a country. If that’s your definition of an election, you may wonder whether Germany is really heading to the polls on September 22. Read more
The wowsers are back on a futile mission to enforce public morality through statute. In Australia, as in New Zealand, a new temperance movement is testing the boundaries of prohibition to encourage better manners. Read more
The New Zealand Herald ran two contributions on the housing affordability debate this week. The first was by the Bank of New Zealand’s Tony Alexander advocating the restriction of foreign investment in housing. Read more
Last week I heard a 60-something-year-old talk about getting some files out of his ‘machine’. I imagined some kind of futuristic filing cabinet but it turns out he was talking about his computer. Read more
Australia is often referred to as the “lucky country”. However, what most Kiwis (and many Australians) don’t know is that Donald Horne was being unkind when he coined the phrase in the 1960s, the full sentence being: “run by second-rate people who share its luck.” Former Finance Minister Michael Cullen once said of Australia: “It’s nothing to do with their intrinsic superiority or less regulation or whatever, it’s because they’ve got this vast mineral wealth. Read more
On Monday, European finance ministers agreed to the release of €6.8 billion for Greece. This followed the latest report of the European Commission, European Central Bank and International Monetary Fund troika on Greek reform and austerity measures. Read more
Last week, the OECD published Education at a Glance 2013, comparing education indicators across 42 countries. Ministers Steven Joyce and Hekia Parata highlighted a few points of interest. Read more
One of the great, yet little known Kiwi academic giants has passed away. Professor Kenneth Robert Minogue, a New Zealander by birth, Australian by upbringing, and Englishman in his working life, has died at 83. Read more
A few years ago, my pet hates in the English language were narrowly defined. They were the handful of words and phrases football star David Beckham typically uttered when reporters courageously interviewed him. Read more