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Kopi Time E086 - OMFIF’s David Marsh on the Sterling crisis and UK
Manage episode 343727710 series 2902435
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David Marsh, Chairperson of Official Monetary and Financial Institutions Forum (OMFIF) joins Kopi Time to go over the UK’s recent bout with extraordinary currency and rates volatility. Mincing no words, David provides a strong critique of the policy choices and communications that have pushed the UK economy on weak footing, leaving it vulnerable to financial stability risks. We talk about past cases of devaluation (especially the 1992 Sterling crisis that David has written about extensively) and consider the parallels and lessons. We then discuss the myriad of risks hovering over Europe, from war to energy insecurity to debt overhang among the peripheral economies. David has a sobering outlook for the global economy, with recession looming and global coordination largely absent. Not many silver linings, other than lessons learnt.
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