If, as opinion polls suggest, the French Socialist Party’s presidential candidate, Francois Hollande, ousts Nicolas Sarkozy in elections this spring, the euro area may be in for a new wave of instability with far- reaching consequences for financial markets and the euro system itself.
Policy makers struggling to understand the barrage of financial panics, protests and other ills afflicting the world would do well to study the works of a long-dead economist: Karl Marx. The sooner they recognize we’re facing a once-in-a-lifetime crisis of capitalism, the better equipped they will be to manage a way out of it.
July 3 (Bloomberg) -- U.K. Chancellor of the Exchequer George Osborne, Deutsche Bank Private Wealth Management Chief Investment Officer Kevin Lecocq, Rochdale Securities analyst Richard Bove and UBS AG senior economic adviser George Magnus discuss Robert Diamond's resignation as Chief Executive Officer of Barclays Plc. Axa Framlington Investment Management senior fund manager Mark Hargraves, SVM Asset Management CEO Colin McLean, Cenkos Securities Plc banking analyst Sandy Chen and former U.K. Financial Services Authority Chairman Howard Davies also speak. (Source: Bloomberg)