Posted by: anotherworldip | 07/15/2012



Dear Project Syndicate reader, 
Welcome to the July 2012 monthly newsletter, bringing you the latest news from Project Syndicate and a selection of key commentaries from the past month. This month, we are pleased to announce the addition of two new monthly columnists, and to present a new Focal Point on global financial reform. To keep up-to-date with all of our content, visit our Web site regularly, and follow us on Facebook and Twitter. Thank you for your continued support.


New Monthly Columnists

Javier Solana was EU High Representative for Foreign and Security Policy, Secretary-General of NATO, and Foreign Minister of Spain. He is currently President of the ESADE Center for Global Economy and Geopolitics and Distinguished Senior Fellow at the Brookings Institution. His most recent column, “The Egyptian Crucible,” analyzes the outcome of Egypt’s presidential election.

Andrew Sheng, Chief Adviser to China’s Banking Regulatory Commission, is President of the Fung Global Institute in Hong Kong. Previously, he served as Chairman of Hong Kong’s Securities and Futures Commission, and was Deputy Chief Executive of the Hong Kong Monetary Authority. His most recent column, “The East Asian Miracle Revisited,” considers the lessons of East Asia’s economic success.


The Big Bank Theory


June brought credit-rating downgrades for the world’s biggest banks, suggesting that, four years after the financial crisis hit, they remain a major source of instability. But they also maintain as much clout over the world’s economies and political systems as ever. In a new Focal PointProject Syndicate’s experts consider what should be done to improve banking practices around the world, with commentaries from, among others, Paul Volcker on whether global financial reform is possible; Nassim Nicholas Taleb and Mark Spitznagel on why investors should divest from banks; Howard Davies on a new wave of financial protectionism; and Simon Johnson on academics’ complicity in financial malfeasance.


Most Recent Commentaries

Europe’s Divided Visionaries

by Barry Eichengreen

BERKELEY – Europe’s leaders, unlike former US President George H. W. Bush, have never had trouble with the “vision thing.” They have always known what they want their continent to be. But having a vision is not the same as implementing it. And, when it comes to putting their ideas into practice, the European Union’s leaders have fallen short repeatedly.

This tension between Europeans’ goals and their ability to achieve them is playing out again in the wake of the recent EU summit. Europe’s leaders now agree on a vision of what the EU should become: an economic and monetary union complemented by a banking union, a fiscal union, and a political union. The trouble starts as soon as the discussion moves on to how – and especially when – the last three should be established…read more.


Is Inequality Inhibiting Growth?

by Raghuram Rajan

CHICAGO – To understand how to achieve a sustained recovery from the Great Recession, we need to understand its causes. And identifying causes means starting with the evidence.

Two facts stand out. First, overall demand for goods and services is much weaker, both in Europe and the United States, than it was in the go-go years before the recession. Second, most of the economic gains in the US in recent years have gone to the rich, while the middle class has fallen behind in relative terms. In Europe, concerns about domestic income inequality, though more muted, are compounded by angst about inequality between countries, as Germany roars ahead while the southern periphery stalls…read more.


Other Recent Commentaries


June’s Most Popular Commentaries


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