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Fortis and the need for urgent European reforms

Financial Times, by D. Gros and S. Micossi - Europe’s universal banks were supposed to be immune to the fallout from the subprime crisis. But we are now discovering that any financial institution is vulnerable if its leverage is too high. The key issue for Europe is not only that its largest banks are vulnerable because they have high leverage, but that they have grown too big to be saved by any single government.

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Where’s Europe’s Obama?

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Can Europe produce an Obama?

IHT - In the general European euphoria over the election of Barack Obama, there is the beginning of self-reflection about Europe’s own troubles with racial integration. Many are asking if there could be a French, British, German or Italian Obama, and everyone knows the answer is no, not anytime soon.

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What does it mean, disclosure?

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