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Search resuls for: "Lawrence Summers"


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☆ Delusions of grandeur are root of Britain’s chaos
  + stars: | 2022-10-21 | by ( Hugo Dixon | ) www.reuters.com   time to read: +7 min
The immediate cause of the chaos Truss unleashed was her failure to heed the advice of her hero Margaret Thatcher. Truss might have got away with large tax cuts and a big increase in spending if central banks were still flooding the global economy with cheap money. Its supporters maintained leaving the EU would put rocket boosters under the UK economy. But delusions of grandeur meant this global phenomenon played out in the UK in a specific way. BRITAIN’S MANY STRENGTHSObservers such as former U.S. Treasury Secretary Lawrence Summers have described Britain as a bit like an emerging market.
☆ How West can mobilise trillions to help save Earth
  + stars: | 2022-10-10 | by ( Hugo Dixon | ) www.reuters.com   time to read: +7 min
LONDON, Oct 10 (Reuters Breakingviews) - War, inflation, debt, hunger, energy security and fear of recession will dominate the discussions at the annual meetings of the World Bank and International Monetary Fund this week. America and a group of other countries have given the World Bank until December to come up with a plan. Register now for FREE unlimited access to Reuters.com RegisterThe West has self-interested reasons to mobilise trillions of dollars to help the poorer nations of the so-called Global South transition from fossil fuels. But getting this money to flow to the Global South is tough because investors don’t think the returns on offer justify the risks. It is therefore encouraging that America and other leading shareholders have given the World Bank its marching orders and that Malpass has responded positively.
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