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’
If you wanted to completely destroy a modern twenty-first century economy there are various places you could start. You could print money to finance unlimited government spending. You could put up tariff barriers on all your main imports. You could even try raising the minimum wage to £30 an hour, while cutting the working week
We were about to crash out of the EU without a deal. The political system was in deadlock. Businesses were fleeing the country and investment was drying up, all against a backdrop of global trade wars and slumping demand across the eurozone. And what happened to the British economy against all those headwinds? As we
The schools will all get new books. The hospitals will all be rebuilt. Long-suffering public sector workers will finally get a pay rise and there will be a ton of money to fight climate change. Liberal Democrat leader Jo Swinson is promising there will be a £50 billion ‘Remain Bonus’ to spend on public services
As president Sarkozy’s finance minister, Christine Lagarde ran up one of France’s largest ever budget deficits and moved so slowly on reforms it cost him re-election. As managing director of the International Monetary Fund, she collaborated in a ruthless deflation that created the worst recession in recorded history in Greece. She then led the IMF
The uncertainty will be lifted. Businesses will know where they stand. Our politics can return to something approaching normality, and the government can get on with tackling all the other issues the country faces. Whatever the precise pluses and minuses of Boris Johnson’s Withdrawal Agreement for getting out of the EU, you might think that
Some fiddly amendments from Sir Oliver Letwin that no one quite understands. A legal action against someone or other from Gina Miller. Lots of protest marches. A petition or two – and possibly even an unreadable novella from Ian McEwan/JK Rowling/John Le Carre (delete as applicable) ranting against Brexit. We don’t quite know yet how
It was where we went on our first date. It was where we took our kids for meals out. And it was the one place we always knew we could get something decent to eat when we were stranded in a strange town. As Pizza Express runs into trouble and could ultimately fold, there has
From our US edition
You can buy a British company without having to face the kind of political opposition you would in France, Germany, Japan or, increasingly, the US
Over the past three years, as we have torturously debated our departure from the European Union, we have heard a lot from the Brexiteers about the industries that might benefit from leaving the EU. Some of these predictions may materialise, others may not. There is one industry, however, that is already doing very well as
It is one of the most diabolical plots of all time, a conspiracy so vast, so deep, and so wicked it could have come from the pen of Dan Brown. A small cabel of powerful hedge funds have installed Boris Johnson at Number 10, paying for his campaign and his advisers. Once there, his task
The government has lost its majority. The constitution has fallen apart. The country no longer has any idea whether it is leaving the European Union or not. Historians and political commentators are queuing up to tell us this is the lowest point in the country’s history since the Suez Crisis/Civil War/Dissolution of the Monasteries (delete
Close your eyes, and you could have been listening to Gordon Brown in his pomp. Seven billion for schools. Six billion for the NHS. Money for youth centres, the police, and social care with overall spending rising at the fastest rate for fifteen years. If Chancellors were measured simply by their ability to spend more
The ‘Non’ was not quite as frosty as it might have been. When Boris Johnson met up with France’s president Emmanuel Macron there were at least some pictures of the two men talking amicably. Even so, while Germany’s chancellor Angela Merkel and some of the EU’s other leaders have at least left the door a
Lots and lots of optimism. Some can-do spirit. A dash of hope, a sprinkle of belief, some added willpower and a pinch of positive thinking. Oh, and in case you forgot, some more optimism (and a few rays of sunshine as well). A whole week into his premiership, which is longer than some of the
Global trade would collapse amid a tariff war. The dollar would be in free-fall as investors fled the chaos. The stock market would tank as money was pulled out of the country. When Donald Trump was elected as President of the United States, there were lots of dire predictions about the impact it would have
There will be exhibitions, television documentaries, and a gala concert organised by Nasa. Over the course of this weekend, the world will quite rightly be celebrating the fiftieth anniversary of the first time a man walked on the surface of the moon. Even after the passage of half a century, it remains an unchallenged achievement
Sajid Javid. Liz Truss. Dominic Raab, or perhaps even his old City Hall colleague Kit Malthouse. There are plenty of well-qualified candidates to move into the house next door when Boris Johnson becomes prime minister next week. But one thing is surely now certain. The incumbent will have to be removed. In the dying days
Unemployment is at record lows. Wages are rising at the fastest rate in a decade. The gender gap is evaporating, creating a more equal society. Which country is that? France, perhaps, as it benefits from president Macron’s reforms? Or Germany, as it reaps all the benefits of the Single Market and the single currency? Well,
Most of us probably decided Aston Martin was by far the coolest car company in the world the first time we saw Honour Blackman climb into James Bond’s DB5 in Goldfinger. But just in case there were still any doubters out there, there is now another reason to love them as well. Amidst the constant
Smooth. Intelligent and articulate. A former finance minister. A European. And perhaps most importantly of all, a mildly irritating potential rival to the prime minister of his own country. In lots of ways, George Osborne ticks all the boxes to replace Christine Lagarde as the managing director of the IMF. Indeed, if you were looking
