Charles Goodhart

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    The best way forward for Greece is a major debt restructuring and a ‘hard’ budget constraint

The best way forward for Greece is a major debt restructuring and a ‘hard’ budget constraint

Talks are continuing between Greece and its creditors in advance of a scheduled Greek debt repayment to the IMF on 30 June. Charles Goodhart and Dimitrios P. Tsomocos argue that the best way forward for Greece would be to undertake a major restructuring of Greek debt and to enforce a ‘hard’ budget constraint on all future public expenditure.

During the […]

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Explaining market reactions to Carney’s forward guidance

Last week saw the introduction of ‘forward guidance’ by the Bank of England’s governor, Mark Carney. Charles Goodhart evaluates the new policy, arguing that markets are signalling their belief in the success of current stimulatory measures in helping to bring about an economic recovery with legs. Output in the UK is still below its previous 2007 peak, one of the […]

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The lesson from Cyprus is that large bank deposits are potentially at risk in other struggling Eurozone countries.

The Cyprus crisis is likely to generate a number of political and economic problems for the country in the short term. Charles Goodhart assesses the impact on Cyprus’s economy and the fallout from the bank levy imposed on large depositors at Cypriot banks. He argues that although the potential for contagion to spread to other Eurozone countries has not yet […]

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