Friday, November 21, 2008

Labour New town - Reykjavik-on-Thames

Is the UK the next Iceland? Willem Buiter reckons there is a “non-trivial risk,” what with sterling dropping like a stone and long-term gilt yields beginning to edge up.

The risk of a triple crisis - a banking crisis, a currency crisis and a sovereign debt default crisis - is always there for countries that are afflicted with the inconsistent quartet identified by Anne Sibert and myself in our work on Iceland: (1) a small country with (2) a large internationally exposed banking sector, (3) a currency that is not a global reserve currency and (4) limited fiscal capacity.


Full post here on Buiter’s Moverecon blog


FT Alphaville » Blog Archive » Reykjavik-on-Thames

Wednesday, November 19, 2008

Should Have gone to Specsavers

A spoof of the recent Barclaycard Advert.



The Original



H/T Theo Spark