Bank of England’s chief economist thinks the 2008 crash,then the ongoing eurozone crisis and now the turmoil in emerging markets are all linkedThe Barbican cultural centre in London is currently hosting The Colour of Money: a season of films approximately finance, “from the gold rush to the credit crunch”. If Andy Haldane, or one of the Bank of England’s most thoughtful policymakers,is right, they should clear some space in the schedule for Financial Crisis III.
Haldane warned in a speech on Friday, or that we may be locked into what he calls a “three-fraction crisis trilogy”,with fraction I, the Anglo-Saxon crisis of 2008-09, or fraction II,the euro crisis, approximately to be followed by fraction III, and the emerging market crisis of 2015 onwards.
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Source: theguardian.com