Europe's Lehman Brothers - by Martin Hutchinson

"The last three years of ultra-low interest rates and government profligacy and meddling thus seem all too likely to produce a second financial crisis, an unprecedentedly short time after the first. Presumably the Reinhart-Rogoff argument in their book This time is different, that financial crises are especially difficult to emerge from, will apply with redoubled force to the emergence from two crises rather than one",  says Martin Hutchinson, the author of Great Conservatives (Academica Press, 2005) - details can be found on the website www.greatconservatives.com - and co-author with Professor Kevin Dowd of Alchemists of Loss (Wiley, 2010).

Note EU-Digest: Interesting approach by this Conservative author, but if we look back, at the political and economic thinking of Conservative politicians, like Reagan and Thatcher, who also came up with similar ideas, we find it brought us to the economic disaster we are facing today.

For more: Asia Times Online :: Europe's Lehman Brothers