Publisher's Synopsis
The markets are mad and, right now, they're mad with the Europeans. Tomorrow, who knows? This new edition looks at the crisis in the eurozone and its maelstrom of debt funding issues. It considers the crisis of leadership, with all the markets betting the eurozone will crash unless and until the European Central Bank steps in to sort out the mess through direct central bank funding. Something which, at the time of writing, the Germans are resisting but which appears to be inevitable. But this is not just another book about the financial crisis. This book is about the outcome. It tracks the markets from the day that Lehman Brothers collapsed, and before with Northern Rock, through the reactions of policymakers, politicians, regulators and markets. It shows where the weaknesses were in hindsight, and where the pitfalls may be in foresight. It tries to give the reader a chance to absorb and understand the key movements that created the crisis, and the explanation of why banks, bonuses and bosses are still at the trough feeding and greeding their way through the issues faced.
