Pink picks

Posted by Tracy Alloway on Jun 27 08:00.

Comment, analysis and other offerings from Monday’s FT,

Wolfgang Münchau: Maybe Greek MPs would be right to say no
The Greek parliament is today scheduled to start the most important parliamentary debate in the country’s recent history, writes the FT columnist. If a majority approves the agreed austerity package in a vote due on Tuesday, all is well. For now. The European Union and the International Monetary Fund will continue to provide credits. If not, Greece might default within days.

Analysis: Accounting – ledger domain
As standard-bearers try to reconcile widely differing approaches, the creation of a system that will better identify losses before a future crisis hits is now mired in delays, writes the FT’s Adam Jones.

Gavyn Davies’ blog: Smart bomb or damp squib in the oil market?
By far the most important event in the financial markets this week was the unexpected release of oil stocks by the IEA, which almost immediately reduced the global oil price by about 8 per cent, notes the blogging economist. The motivation for this intervention might well have been Washington politics but, if the fall in the oil price persists, it will have a very useful effect on global economic activity, just when it is most needed.

News analysis: Privatisation fever takes grip
First the downturn, then the sale of state assets – it is like a rerun of the 1980s, writes the FT’s Gill Plimmer. Privatisation is again sweeping the world, with governments hauling in a record $213bn in revenues last year in a massive sale of everything from ports to phones and gambling companies to gas groups.

Lex on Basel dazzle ‘em – a certain ratio
It is a wonder members of the Basel Committee on Banking Supervision can get out of bed each morning, notes Lex. Thirty three years of trying to make the financial world a safer place was rewarded with the biggest crisis in generations. Still, they cannot be faulted for perseverance. On Saturday, the committee’s oversight body announced it had agreed on how to assess the systemic importance of banks.

Brussels blog: Could Germany divorce Europe?
I get so many pamphlets sent to me by think-tanks that most of them go unread, notes the FT’s Gideon Rachman. However, one that I’m really glad to have picked up is a brilliant effort from the European Council on Foreign Relations called “The New German Question“. The ECFR is committed to greater European unity and that belief runs through the pamphlet. But it does not prevent the authors, Mark Leonard and Ulrike Guerot, from asking some really penetrating and difficult questions.

Philip Delves Broughton: Walmart should fear its gender bias culture
Last week’s decision by the US Supreme Court to dismiss the largest sex discrimination suit in the country’s history, filed on behalf of 1.5m female Walmart employees, was a victory for the company’s lawyers. The 5-4 decision spared Walmart having to pay out billions of dollars in compensation. But it was a near thing, says the author of ‘What They Teach You at Harvard Business School: My Two Years in the Cauldron of Capitalism.’

Clive Crook: A fiscal policy fit for the next crisis
The debt-ceiling talks in Washington have stumbled again, says the FT columnist. The sticking point, as before, is taxes. Republicans refuse to raise them and Democrats are insisting on it. The drama and the walkouts are part of the show: in all likelihood a deal of some sort will still be struck before the August 2 deadline. Whether it is a good deal for the country is another question.

This entry was posted by Tracy Alloway on Monday, June 27th, 2011 at 8:00 and is filed under Uncategorised.

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