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The Great Unravelling

Geoff Riley

10th October 2008

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Paul Krugman in today’s New York Times

“We have a globalized financial system in which a crisis that began with a bubble in Florida condos and California McMansions has caused monetary catastrophe in Iceland. We’re all in this together, and need a shared solution.”

His article is the clearest bit of journalism that I have read in a very long time. He praises the British Government’s strategy of directly injecting fresh capital into the banking system in return for a share of their equity (so called part nationalisation).

The rest of the article is here

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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