iceland

The Triple-A failure: Iceland and the failure of the rating agencies

Iceland is a good example of the fallibility of the rating agencies. During Iceland’s financial crisis, no one – and least of all the rating agencies – seemed to wonder why three banks from a tiny island with no history of banking could out-earn foreign banks despite borrowing at a relatively high cost.

The real double dip won

The double-dip begins

Tony Dolphin explains why the contraction in the 4th quarter of 2011 is likely to be the beginning of a double dip recession.

Looking strangely content as the world burns: Gideon Osborne

One-club Osborne drives economy further into the rough

William Bain MP (Labour, Glasgow North East) is the shadow food, farming and fisheries minister, and contributor to “What Next for Labour? Ideas for a New Generation” It is often claimed that George Osborne views himself as a latter-day Nigel … Continued