Matthew Lynn is a financial columnist and author of ‘Bust: Greece, The Euro and The Sovereign Debt Crisis’ and ‘The Long Depression: The Slump of 2008 to 2031’
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An arrogant, aloof, wordy, pro-EU centrist drawn from the same narrow elite that has dominated the country for decades. It’s not that hard to see how French voters might choose to replace Emmanuel Macron with Michel Barnier. Apart from the fact he is older, his hair is greyer, and his wife is slightly younger, it is
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The City has resigned itself to being locked out of the EU. The hauliers are adjusting to all the extra paperwork. Now it looks as if the lawyers will have to get used to no deal as well — and while that won’t do any serious long term damage to the profession’s booming global status,
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The debacle in Iraq. The fall of Saigon at the end of the Vietnam War. The failed ‘Bay of Pigs’ invasion of Cuba. You can debate where exactly the collapse of Afghanistan ranks in the list of American military and foreign policy disasters. But one point is surely certain. It is a major setback, and
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19 min listen
On this week’s episode, Jonathan Miller, author of France, a Nation on the Verge of a Nervous Breakdown talks about the French ‘vaccine passport’ protests; Financial columnist Matthew Lynn reflects on 50 years without the gold standard; and Melissa Kite tells us about her own ways of treating Covid.
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The dotcom bubble. The financial crisis of 2008 and 2009. The oil price spiral of the 1970s. The launch of the single currency. It would be fun, in a nerdish kind of a way, to debate which was the most seismic economic event of postwar history. But in fact the answer would be this: the
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Tapping out some code in the back garden. Working on a sales presentation while watching the school sports day. Or even better, traveling though a continent or two while still pulling down a ritzy six figure salary. Over the last year, middle class professionals have bought into the Work From Home Dream – or WFHD
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It will be better for our careers. We will network more effectively, spark ideas off one another, and learn new things from our colleagues, as well as getting a reminder from time to time of how annoying they are. Chancellor Rishi Sunak took a break today from his usual occupation of dishing out vast sums
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The UK is growing at the fastest pace in 80 years. The United States, fuelled by President Biden’s stimulus programme, is expanding at a breath-taking pace, while Sweden is growing at a rapid rate. Most of the global economy is bouncing back from the Covid recession at remarkable speed. There is, however, one exception. Australia.
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There will be chaos at the borders. Food will run out at the supermarkets. Travellers will face long queues, and companies yet another round of disruption. As the UK lays the groundwork for breaking with the Northern Ireland Protocol, we will hear plenty of scare stories about how it might mean losing the Free Trade Agreement
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A dozen hospitals. A hundred million doses of the Pfizer vaccine, and a lot more of the Oxford one. Or even a few trips in one of Jeff Bezos’s new space rockets. Even with inflation, there is still plenty you can buy with an extra three to four billion pounds. In recent days, it has emerged
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They are rich boys with some very expensive toys. As Richard Branson completes his first space flight, it would be easy to dismiss the race between the Virgin founder and Amazon’s Jeff Bezos to be the first billionaire in space as the self-indulgence of a couple of tycoons with too much testosterone and too much
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Two billion? Five billion? Perhaps ten billion to make it a nice round number? For colluding on diesel emissions you might think the European Union would hand out a pretty stiff fine to the big German auto-manufacturers. After all, it has hit American tech giants with huge penalties for far lesser transgressions. Yet in the end, its
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The government will ‘Buy British’ whenever possible. A new law would force every public body to publish the percentage of supplies bought from domestic suppliers. And Gareth Southgate will be appointed as the country’s new management tsar, tasked with turning every worker into a winner. Okay, I admit I made that last one up. The
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The economy is growing at a blistering pace, and likely to recover all its Covid losses by the autumn. Labour shortages are emerging across a range of industries, as the supply of Eastern European workers dries up. Prices are starting to edge upwards, house prices are soaring, and commodities are getting more expensive. But, hey,
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In the global market for government debt, worth an estimated $92 trillion (£66 trillion), it amounts to little more than a drop in the ocean. The European Union this week issued the first €20 billion (£17 billion) of bonds to pay for its Coronavirus Rescue Fund. The money itself doesn’t amount to very much one way
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Netflix is not signing up subscribers at the rate it once did. Disney+ has stalled. At Boohoo, growth is not as red hot as it was just a few months ago, while Deliveroo’s float on the London stock market was quickly dubbed ‘flopperoo’ by City wags. Zoom’s shares price has stopped, er, zooming, at least
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A new court will be established with powers over both countries. Labour and product laws will be harmonised. Flags with kangaroos and crowns will flutter over buildings, there will be a special parliament moving weekly from Cairns to Coventry and an anthem that mashes up Rolf Harris and The Beatles will be played at every
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Companies are facing critical shortages of staff. Commodity prices keep spiking upwards. Central banks are printing money on an unprecedented scale, and governments are running deficits of a size that haven’t been seen in peacetime before. What could possibly go wrong? Well, quite a bit, as it happens. And the departing chief economist of the
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Vetoes should no longer be allowed. Smaller countries should not be able to block the will of the ‘majority’. And the biggest countries, with the largest financial contributions, should be the ones that get to dictate policy. Ever since German re-unification made the country by far the largest in the bloc, there has been a
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Poverty will be abolished. Governments will be able to spend again. Inequality will be eradicated, our welfare systems secured and the power of the tech giants will finally be curbed. We will hear a lot of hype about today’s global tax deal. Given that the liberal-left have spent the last decade complaining that the main
