Bob Lyddon

Introduction Financial regulators frequently refer to the Global Financial Safety Net, or GFSN, as the bulwark against a repeat of the Global Financial Crisis and the Eurozone crisis 2007-13. The…

Introduction Financial regulators and governments have made much of their success in restoring the global financial system to a state of stability after the Global Financial Crisis and the Eurozone…

Introduction We recently wrote that the enormous losses being handed to taxpayers by Western central banks were in effect the second part of the same bill for the Global Financial…

Introduction Governments made major interventions to shore up the financial system during the Global Financial Crisis, which lasted from 2007 until the end of the Eurozone crisis in 2012. These…

Introduction The Bank of England has taken the lead amongst the world’s central banks in issuing a working paper about how central banks can replenish their capital, now that they…

Introduction The ‘Celtic Paper Tiger’ is that part of economy tied up with servicing foreign multinationals and reducing their tax bills. It represents 65% of the Republic of Ireland’s economy,1it…

Introduction On January 29th 2024 international creditors gained a winding-up order against China Evergrande Group (‘Evergrande’) in the Hong Kong courts.1 This is a test case for the rights and…

Introduction The UK government has cancelled its guarantees to a private lender – Greensill Capital – under the UK’s coronavirus support, without the obligation that was guaranteed having been discharged.…

Introduction The European Stability Mechanism (ESM) will now be backstop-of-last-resort to the Eurozone banking system, in addition to backstopping the Eurozone member states and the currency itself. Its resources have…

Introduction The European Stability Mechanism (ESM) backstops the euro. Its nominal size is €705 billion but its lending capacity is lower at €500 billion, and the main condition attached to…