Financial crisis. When in doubt…

October 8, 2008

always ask… Martin Wolf! 😉

Today is Wednesday, Wolf FT column day. In the midst of the financial crisis, always a good read. In the current panic sweeping the world, much is being written, but knowing who’s right and wrong will need some time.

Martin Wolf says Europe needs systematic time-limited savings guarantees and serious recapitalization of our banks. Whether one agrees or not, it is however hard for me to disagree with this:

The fear driving today’s breakdown in financial markets is as exaggerated as the greed that drove the opposite behaviour a little while ago”.

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