Showing 1 - 4 of 4
Facebook's Libra must be stopped
Business, Katharina Pistor, Published on 03/07/2019
» Facebook has just unveiled its latest bid for world domination: Libra, a cryptocurrency designed to function as private money anywhere on the planet. In preparing the venture, Facebook CEO Mark Zuckerberg has been in negotiations with central banks, regulators and 27 partner companies, each of which will contribute at least US$10 million. For fear of raising safety concerns, Facebook has avoided working directly with any commercial banks.
When democracy and governments fail the people
News, Katharina Pistor, Published on 14/03/2016
» Nobel laureate Amartya Sen famously suggested that famines do not occur in democracies, because accountable governments will do everything they can to avoid mass starvation. The same reasoning should apply to clean drinking water; like food, it is a resource that is indispensable for our survival and well-being.
Central banking's elitist swap clubs
News, Published on 12/12/2013
» In the wake of the 2007-2008 financial crisis, the world's central banks played a critical role in rescuing the global financial system. They stepped in when private markets froze, acting as lenders and dealers of last resort, and provided additional liquidity to grease the wheels of finance.
How can democracies manage sovereign debt?
Business, Published on 21/10/2013
» When Greece's sovereign-debt crisis threatened the euro's survival, US officials called their European counterparts to express bewilderment at their inability to resolve the issue. Now, the tables have turned, with American leaders receiving such calls. The most recent threat of a US debt default has been avoided, but only temporarily.