The book is a collection of 15 papers on the current challenges in sovereign debt restructuring and alternatives for resolving them. For investment analysts, it is a valuable resource of systematic analysis, insight, and data on an increasingly important topic.
There are many lessons to be gleaned from the financial crisis of 2008, to be sure. I recently came across Bethany McLean's article "The Top Five Unlearned Lessons of the Financial Crisis," and while McLean highlights serious problems, it seems to me that her list doesn't go far enough.
The quantitative easing recently announced by the Bank of Japan may benefit investors who hold Japanese equities, but Ron Rimkus, CFA, sees the classic makings of one big investment bubble.
Suddenly gold is being proposed as a cure-all for the weakening dollar, allowing it to retain its place as the international reserve currency — a trophy taken, not without a fight, from the British pound at the READ MORE ›
Among the abnormalities of the Great Depression in the 1930s were the brutal violence of the economic cycle and the grim persistence of unemployment — which resonates with us today. This time around very different economic dimensions have emerged, including excessive public debt made worse by bank bailouts, income inequality, and intergenerational warfare.
Thomas Mayer argues persuasively that Europe’s Economic and Monetary Union (EMU) could work if the member states would embrace a new EMU architecture. Even though all past monetary unions of sovereign states have failed, Mayer remains hopeful that the EMU can develop a more robust framework and contribute to the historical work of European unification.
Our ten most-popular articles from the past year include coverage of the ever-unfolding European sovereign debt crisis, how the election cycle affects the markets, and Warren Buffett's secret sauce.
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