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Larry Elliot

2008 all over again and the banks’ fail-safe will be you

Banks issued bail-in bonds hoping pension funds would buy them, but hedge funds, private banks and retail investors have snapped them up.

Capitalism is about profit, not charity

Big banks, energy giants and internet multinationals won't change their bad behaviour by themselves – they must be forced to play nice.

Cyprus: Shackled to a zombie economy

As Europe stumbles from crisis to crisis, it might be a good time for Cyprus to ditch the currency.

UK banks may face 60bn shortfall

Bank of England policymakers have ordered British banks to make a more "honest" assessment of hidden losses on their balance sheets.

US economic woes to be election deciding factor

Whoever wins the US election between President Barack Obama and contender Mitt Romney will find themselves standing at the edge of a fiscal precipice.

World faces tough choices on food

The past decade has seen the end of cheap oil, the magic growth ingredient for the global economy since World War II.

Battle won but fiscal war not over

Europe's leaders are claiming victory in the eurozone crisis after agreeing to new deals that halve Greek debt.

Greece: The new Lehmans

If Athens reneges on its debts it will shatter the markets' confidence in the eurozone project.

Recovery may run out of steam, says IMF

Recovery from the worst recession since the 1930s is weak, unbalanced and runs the risk of running out of steam the International Monetary Fund warns.

Twilight of American century

As deflation and depression loom, the United States could be at a historical turning point.

A challenging baptism

Monetary policy is being eased everywhere, with the expectation that the Fed will join Japan in having a policy rate below 1% by the end of the year.

Don’t bet on a soft landing

Scroll the film forward a year. It's January 2007 and time for Davos again. Only one topic of discussion interests the ''fat cats in the snow'' (as Bono calls them) -- that's how on earth they missed the glaring signs a year earlier that something big and nasty was about to happen.

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