Politics

The absolute biggest risk out there I can identify would be if something went really wrong with China as it is so important to the BRIC and global economic future. Luckily, I think it is a small risk.

Economist who coined the term "BRICS" for emerging markets.

I think the 2008-2011 era has demonstrated that there are major problems with the structure and governance of the EMU and there is need for considerable change, probably more fiscal and political union, of which a common Euro denominated bond will be part of.

Economist who coined the term "BRICS" for emerging markets.

We are in the process of destroying an entire society. It is as simple and terrifying as that....

UN Humanitarian Coordinator; led Iraq sanctions criticism in 1998

The inconvenient-truth of this situation is that however many observers and commentators espouse rhetoric about solutions for this crisis, without buy-in from the individuals who are responsible for our economy? those words are in vain.

You cannot govern a 21st century globalised business with the management style of an 18th century trading firm. In the same way, the modes (and rationale) of governance must be brought up-to-speed with the nature of the citizens they are responsible for.

Policy-makers will have to do the two things which, more than anything, they avoid at all costs. Firstly Accept responsibility and be secondly… be honest…

When politicians refer to 'our nation's best interest' they must realise our economy is globalised.. this means that their nation's best interest is inextricably linked to the best interest of their neighbours- and nations further afield.

The Chinese government has realised that to fuel capitalism, an atheistic, communistic, civil-religion will never propel growth. They realise that their system, frankly, will not support the growth or creativity to create the new technologies and companies that are necessary.

What is obvious is that the first reason people use drugs is that they're there. You can't use drugs unless they're there, and they're cheap for your pocket or for the fruits of your stealing! For that reason, we need to get a deeper understanding of the fundamental question of why drugs are available on our streets.

Pioneer of addiction medicine and alcohol dependence research; founded modern addiction psychiatry

It's naïve to think that financial markets are not part of the battlefield.

Currency expert & author on financial threats to national security

A foreign power using financial resources to create hedge-funds or other anonymous players who would gain leverage and trust and be viewed as just another hedge-fund with a funny name based out in the Cayman islands. People would be unaware of their true attentions and then on a certain day, they could act in co-ordination and flood the market with sell-orders.

Currency expert & author on financial threats to national security

The value of the Rial dropped over 40% in two days. This was a clear currency collapse! It immediately injected hyperinflation into some areas of the Iranian economy as merchants who wanted to import suddenly had to double their local currency prices.

Currency expert & author on financial threats to national security

Cyber-threat is the single most serious threat faced by the markets. The United States is very good at cyber warfare and counter warfare, but so are others. This is what we call 'asymmetric' warfare where adversaries have been able to level the playing field.

Currency expert & author on financial threats to national security

When you have high levels of indebtedness and big deficits… if you simply impose fiscal austerity, you may not be able to achieve your targets because GDP will begin to contract and that will place much greater pressures on the fiscal side.

Fiscal austerity is the primary focus of policy in terms of response. That is both a misdiagnosis and compounds the problem.

The monetary union was flawed from inception. It included, under the framework of a single currency and a single monetary policy, countries that were likely to have very divergent outcomes and therefore would prefer to see different exchange rates, interest rates, and monetary policy responses.