Archive for October 5th, 2018

In case you thought Netherlands is a friendlier place for women to work…

October 5, 2018

This is surprising to read as one imagines better work facilities for women in countries like Netherlands:


How the media helped turn the worst recovery in 100 years into a strong economy in stable hands before the 2015 election

October 5, 2018

Prof Simon Wren Lewis in his blogpost takes on UK’s financial media and City economists (non-academic) for painting a rosy picture of UK economy:


Some Central bankers continue to believe that first banks receive deposits and then create loans…

October 5, 2018

Reflecting on the recent speech by official of RBA where he criticised the long held view of banking: that banks receive deposits and then create loans.

Came across this recent speech by Salvatore Rossi, Dep Governor  of Bank of Italy:

As President Pellicanò has already said, this is an important day. We are celebrating the fiftieth anniversary of Credit Day, an annual occasion for taking
stock together of the world of credit and the role it plays in Italy. Italy has changed greatly over the last half century, at least in some respects. In 1968 Italy was emerging from the economic miracle that had turned it into a modern country and was heading for stormy years of social and political turbulence.

Today, it is still one of the leading advanced economies, though it is threatened by decline. Fifty years ago the credit system was almost entirely public and now it is almost all private.

Yet banks continue to do essentially what they have always done: they collect deposits from a vast array of savers and use these resources to make loans to a smaller group, consisting mainly of firms. Italy’s banks find themselves at a crossroads today, as loans may no longer be their fundamental prerogative.



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