Only a new political order can rescue Greece – FT.com

March 25 - Greece Independence Day

March 25 – Greece Independence Day (Photo credit: Aster-oid)

This is an excellent article on the Greek crisis written by Pavlos Eleftheriadis, in the FT. The writer is a Fellow in Law at Mansfield College, Oxford.

via Only a new political order can rescue Greece – FT.com.

For me, the article makes a great deal of common sense but I fear that there will be enormous pain for the Greek people before a new political order can be created.

Europe’s banks: Slouching towards a banking union | The Economist

Interior of NatWest Castle Street, Liverpool

Interior of NatWest Castle Street, Liverpool (Photo credit: Wikipedia)

This article from the Economist is well worth a read. Check it out!

Europe’s banks: Slouching towards a banking union | The Economist.

Once again, for me, the article highlights the short-sightedness of policy-makers who have singled-mindedly advocated austerity. Lack of vision and leadership from policy-makers has worried the financial markets and consumers, bringing banks to their knees. Personally, I have little time for the banking sector, including both management and unions, with shoddy treatment of customers, with banks in many countries operating as quasi cartels, in my view.

Personally, I would very much like to see a European wide banking union, and a root and branch  transformation of banks, removing layer after layer of bureaucracy, and cutting compensation levels down to size. Do you agree with me or have another view?