If you spend enough time in policy circles, you will eventually run into the concept of the impossible trinity. A country can have full control of its interest and exchange rates, at the cost of imposing controls on the movement of capital. If it decides it would like to remove these controls, then it must Read More
Theresa May’s speech railing against Parliament brings us to the brink of a no-deal Brexit.
The Withdrawal Agreement has foundered, and beneath the froth and fury of Parliamentarians blaming the prime minister, the opposition, the European Research Group, the European Union, and indeed each other for the deal’s undoing, the rocks of the Irish backstop await the next unfortunate attempting to pass. The prevailing consensus is that there can be Read More
My favourite Alan Rickman performance is his turn as the snarling, flouncing, delightfully villainous Sheriff of Nottingham. It really has everything; the hair, the voice, the outfits, the wickedly delivered threats. Sadly, it’s the last of these that Theresa May has decided to emulate: “Cancel the kitchen scraps for lepers and orphans, no more merciful beheadings, Read More
With four months remaining until the UK leaves the EU, Theresa May is caught between the devil and the deep grey Irish sea. The November meeting of EU heads of state, originally pencilled in as the date when Brexit negotiations would be signed off on, could now become an emergency response to a potential no-deal Read More
One of the best known laws of economics is that bad money drives out good. If a country debases its coinage, mixing the gold and silver in new coins with lower value metals, people will hold onto the older and more valuable coins and spend the new ones. The bad money flushes the ‘good’ money Read More