There appears to be a major contradiction in the current ECB position regarding the solution to the current crisis: on the one hand, it insists that “private sector involvement” (code word for haircut on money imprudently lent to profligate states) should be rejected as it implies that Euro-area sovereign debt is not risk- free (meaning […]
The on-going debate on the euro-zone crisis mostly fails to disseminate hard numbers so that the order of magnitude of the problem gets lost. The following tables display the cost of planned haircuts on peripherals for all EU countries, first in percentage of GDP and next in percentage of current tax revenues. Admittedly, Greece, Portugal […]
It is with profound sadness that we must inform our friends and colleagues of the untimely and unexpected passing of Dr Venkataraman Sundararajan, on April 11th in Khartoum, Sudan. Rajan, as he was known to many, was an internationally recognized authority on the financial sector. He headed the Centennial Group’s Financial Sector Practice. Before joining […]