Sep 28, 2007

Bank crisis exposes limits of confidence

LONDON — Mortgage lending is inevitably long term. To cover such lending, banks depend on deposits by savers that may well be short term. If banks don’t have enough deposits to cover their loans, they have to borrow on the interbank market. Banks are ...

Sep 6, 2007

Help wanted from the richest

LONDON — “The have-yachts and the have-nots” is a phrase used in London to distinguish between the very rich and not so rich. It reflects the growing disparity between the mega-rich and the rest. The mega-rich include hedge fund managers as well as the ...

Aug 25, 2007

Battling aviation pollution and congestion

LONDON — The British summer this year has been a nonevent: Rain, clouds and wind. The temptation has been to fly south to the Mediterranean where the sun has been scorching. But there is no joy in flying these days. The main London airports ...

Aug 9, 2007

How to deal with disasters

LONDON — Britain is notorious for its weather. This year April was unusually fine and warm. May, June and July were unseasonably cool. To describe these months as “wet” would be an English understatement. There was record rainfall with some places being deluged by ...

Jul 27, 2007

Scripting the exit from Iraq

LONDON — Prospects for Iraq and its people are gloomy. Responsibility for that rests partly with Saddam Hussein and his evil regime, but also with the Americans and their allies for botching the aftermath of the March 2003 invasion. The first question is not ...

Jul 18, 2007

The terrorists in our midst

LONDON — The terrorists who committed the atrocities in London on July 7, 2005, seemed to have been of limited education and from relatively poor backgrounds. The four terrorists who were convicted recently of plotting mass murder on the London transport system on July ...

Jun 30, 2007

Britain's future tied to Europe

LONDON — The recent European summit in Brussels reached a compromise on a treaty that would replace the proposed European constitution rejected by voters in France and the Netherlands. Tony Blair, in one of his final appearances as prime minister, claims to have preserved ...

Jun 10, 2007

Japan and Germany: worlds apart and yet so similar

CULTURE AND POWER IN GERMANY AND JAPAN: The Spirit of Renewal, by Nils-Johan Jorgensen. Global Oriental, 318 pp., 2006, £50 (cloth) The author of this interesting and thought-provoking study was a Norwegian diplomat who served in both Germany and Japan. He acquired a good ...

Jun 8, 2007

Vanity in spinning a legacy

LONDON — Leaders of the summit countries have been changing. Gerhard Schroeder, the German Social Democratic chancellor of Germany, was the first to go. His replacement, Angela Merkel, is a Christian Democrat but leading a coalition with the Social Democrats. The next was Japan’s ...

May 31, 2007

Handling a truculent Russia

LONDON — Alexander Litvinenko, a former KGB officer who had denounced corruption in the FSB, the successor to the KGB, is thought to have been murdered in London last November. His death was particularly horrific as he died after prolonged suffering as a result ...

May 10, 2007

Who benefits from M&A?

LONDON — Mergers and acquisitions have been much in the news in the last few weeks. These have raised some controversial issues. One of these concerns the role of private equity. Another is that of cross-border mergers. The American private equity firm of KKR ...

Apr 16, 2007

Preserving the countryside

LONDON — In Britain we have not yet quite lost the battle to preserve the countryside, but it is far from won. In Japan, however, it looks to many outsiders as if preservation is a lost cause. In Britain, the Campaign for the Preservation ...