To BOT, Or Not?

If it looks like money and behaves like money then it is money. The picture here shows a mocked-up, Italian mini-BOT (Buono Ordinario del Tesoro), the proposed parallel currency that the Italian government is threatening to introduce to create the liquidity (spending power) that it needs to stimulate its economy. We’ve discussed mini-BOTS before (Italy … More To BOT, Or Not?

Themes-16: EMU-Euro

In June 2015 the presidents of the five major divisions of the European Union, led by Jean-Claude Juncker, President of the European Commission, published their report, titled Completing Europe’s Economic and Monetary Union. We reviewed the report in three posts, the second of which covered economic and monetary union. The presidents proposed four strands to … More Themes-16: EMU-Euro


When we were young we believed in ‘enlightened’ political theories, since then we have taken better notice of what was revealed during The Enlightenment period in Europe – that ideas are a starting point but evidence is the test of their validity. We now believe that outcomes matter more than high-minded ideals. Even a good … More Enlightenment

Party Politics

Whatever the outcome of a second Referendum it is unlikely to be so decisive that it resolves the national divide on Brexit. A General Election would at least change a few bottoms on the green benches at Westminster but how do voters choose given that it could change a lot of things apart from EU … More Party Politics