Bob Lyddon

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…

UK Consumer Price Inflation remained at 8.7% in May. The Bank of England has raised the cost of overnight money to 5% via increases in its Base Rate, and has…

Introduction Central banks have undertaken many investigations, pilots and proofs-of-concept into Central Bank Digital Currencies (CBDCs), proving little beyond the lack of a convincing case in their favour, but unearthing…

Introduction How resilient is the global banking system? Are banks’ capital buffers now much larger than they were going into the Global Financial Crisis of 2007/8, as authorities claim? The…