A banker is hung in effigy as part of an art installation in Miami, Florida. Image: Getty

The perverse consequences of punishing the banks

29 July 2014 17:20

Lloyds Banking Group is to pay fines of £218 million for fixing interest rates including Libor (the rate at which banks lend to one another) the Financial Conduct Authority and… Continue reading

The Sun Sets Behind The Houses Of Parliament

Michael Sandel interview: the marketization of everything is undermining democracy

22 May 2013 9:41

Michael Sandel is a political philosopher and a professor at Harvard University. He is best known for his  ‘Justice’ course, which he has taught for over two decades. Sandel first… Continue reading

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Pier Luigi Bersani secured a majority in the Chamber of Deputies, but not in the Senate. Picture: Getty Images

Italian elections: ‘The worst possible outcome’

26 February 2013 15:16

Forget Moody’s. If you want to see market panic, just look at Italy. As Isabel reported this morning, the unexpectedly strong performance of Beppe Grillo’s anti-establishment party, the Five Star… Continue reading

Picture: Getty Images

Markets shrug off Britain’s downgrade

25 February 2013 9:37

It seems that Moody’s downgrade of UK government bonds on Friday night has — so far — had more effect on the headlines than the markets. After the news on… Continue reading

Peter Dawson

Who cares about HMV? Shopping has never been better. - Spectator Blogs

15 January 2013 13:45

How many people presently lamenting the demise of HMV (at least in its current incarnation) actually spent any money there these past, say, five years? Not too many, I suspect.… Continue reading

Picture: Getty Images

The energy sector’s Libor-style scandal

13 November 2012 14:55

As David reported earlier, today’s Guardian carries allegations of price-fixing in the energy markets. The paper has an account by Seth Freedman, who worked as a price reporter at ICIS… Continue reading


George Osborne, Poker Player

30 May 2012 13:28

May God protect me from my friends. That, I suggest, should be George Osborne’s reaction to Ben Brogan’s Telegraph column this morning. As best I can tell, it’s supposed to… Continue reading


A welcome attempt to fix the broken energy market

11 April 2012 14:03

Back in October, Ofgem produced a report exposing the failure of the UK’s energy market. It showed that the supplier’s profit margin on the average fuel bill had shot up… Continue reading


The Italian domino effect

10 November 2011 0:39

For all the debate about Theresa May and border security, the big news has not been at Westminster today. Instead, people have been watching what is happening in Italy. For… Continue reading


Thoughts for the day

29 October 2011 14:11

Charles Moore and Matthew Parris, Spectator columnists both, represent two of the distinct philosophical and intellectual tradition that make up the Conservative party these days. Their columns today should give… Continue reading


The existential threat to the EU

28 September 2011 10:56

Away from the Liverpool, the Eurozone crisis continues. Market confidence appeared to be growing after European leaders sketched a debt recapitalisation deal for Greece over the weekend. Shares in deeply… Continue reading



26 September 2011 9:49

Well, so much for that. The FTSE 100 fell as much as 1.7 per cent this morning, while overnight the euro and Asian stock markets tumbled, after Europe’s leaders announced… Continue reading


Leadership at last?

25 September 2011 9:40

Most of today’s papers carry reports of a deal to relieve the European sovereign debt crisis. The details are varied, but it seems that 50 per cent of Greek debt… Continue reading


Further tension in the Eurozone

23 August 2011 11:00

The Eurozone’s political crisis is deepening. Further to the news that individual member states were seeking their own bilateral deals with Greece to insure their taxpayers’ money from default, the… Continue reading


Arresting the West’s crisis of confidence

20 August 2011 15:52

What’s the most important geo-political event of this century? Most people would say 9/11. The Foreign Secretary believes that it is the Arab Spring. But in The Times today (£),… Continue reading


The markets rout

18 August 2011 17:59

The recent rally on the markets is now the most distant memory. Stocks continued to fall today amid concerns about the European sovereign debt crisis, negligible growth figures in the… Continue reading


Common Franco-German position on Greek debt

21 July 2011 10:25

As I wrote earlier this morning, rumours of a ‘common Franco-German position’ on Greek debt were circulating in the early hours. Details are now emerging. Nicolas Sarkozy has dropped plans… Continue reading


Getting a grip of the crisis

21 July 2011 9:33

“I’m very worried, this building [the Treasury] is very worried and this government is very worried,” said George Osborne of the unfolding crisis in the Eurozone. In an interview with… Continue reading


Euro crisis enters a new phase

19 July 2011 10:57

It was a problem that would be fixed with a snap of the Commissioners’ manicured fingers, but now fresh euro-storms are louring in the near distance. As predicted over the… Continue reading


Yes, There Is A War on Drugs. Part XIV.

21 June 2011 13:46

On the one hand, it’s good that Ed Vulliamy is in the Guardian today highlighting the appalling miseries of the Mexican Drug War; on the other it’s unfortunate that his… Continue reading


Lords: government not championing European single market "strongly"

5 April 2011 10:43

Tucked away in an old building, where few people knows of its existence, lives one of the most important parliamentary creatures – the House of Lords European Union Committee. Often… Continue reading


Clegg defines his liberalism

13 March 2011 15:20

I do feel for Nick Clegg. He’s taken an oppositionalist party into government, and they hate it. He is politically and psychologically prepared for what goes with power; grassroots LibDems… Continue reading


Blame Twitter for the increased oil prices

2 March 2011 16:46

The BBC are reporting that unleaded petrol has now reached 130p per litre and are blaming Libya. I¹m not convinced. Libya only accounts for about 2.3 percent of global oil… Continue reading


The Tuition Fees Stramash and Why Nick Clegg is Like George HW Bush

9 December 2010 15:11

The absurdity and knavery of modern politics has been on full display during the "debate" about university tuition fees. So much so, in fact, that almost no-one emerges from the… Continue reading


The problem for Gove is that structures beget standards

24 November 2010 17:59

As you’d expect, Michael Gove’s White Paper is a feast of good sense. His speech in the Commons was powerful analysis, and his rebuttal of Labour MPs fun to watch.… Continue reading