David Marsh

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Articles

AIIB chief says London ‘one of the hopefuls’ for European finance hub

Dec 3, 2024 | omfif.org | David Marsh

London is ‘one of the hopefuls’ under consideration for a European funding and trading hub of the Beijing-headquartered Asian Infrastructure Investment Bank, according to Jin Liqun, the bank’s president. In remarks to be broadcast at OMFIF’s third China-UK investor forum in London on 4 December, Jin provides a ringing endorsement of London’s prowess as an international financial centre.
Britain and China: strong reserves of common ground

Nov 28, 2024 | omfif.org | David Marsh

At a turning point in both countries’ development, Britain and China share strong reserves of common ground. Now, at a time of epochal international shifts, when the war in Ukraine has riven the world and America stands on the brink of a new and unpredictable Donald Trump presidency, it is worth examining how the two countries can combine forces in some key areas.
Watershed for Europe in UniCredit-Commerzbank dispute

Sep 24, 2024 | omfif.org | David Marsh

The long-discussed move by UniCredit, Italy’s number one bank, to seek control of Germany’s Commerzbank is a watershed for Germany and Europe. Whatever happens following the announcement that UniCredit has built a 21% stake in Germany’s second biggest stock market-quoted lender, the episode marks another huge test for embattled German Chancellor Olaf Scholz. It adds to a spate of political and economic worries assailing Europe’s biggest economy.
Helmut Schlesinger, post-war German central banker, turns 100

Sep 3, 2024 | omfif.org | David Marsh

Helmut Schlesinger, the quintessential post-war German central banker, turns 100 on 4 September, a quiet milestone in a life dedicated to monetary stability yet punctuated by international economic tempests. Although he was president of the Bundesbank for only two action-packed years (1991 to 1993), Schlesinger had an impact in Germany and the wider world well beyond his brief period at the helm.
German coalition unlikely to last until September 2025

Aug 29, 2024 | businesstimes.com.sg | David Marsh

Published Fri, Aug 30, 2024 · 05:00 AMA SENSE of foreboding is building in Germany about prospects for government stability. Under pressure from all sides, the fractious three-party coalition under Chancellor Olaf Scholz may not last the legislative period up to the scheduled general election in September 2025. Scholz is trying to keep his creaking administration intact in view of the high-tension international environment, but the forces leading to break-up could soon become overwhelming.
German coalition unlikely to last until September 2025

Aug 28, 2024 | omfif.org | David Marsh

A sense of foreboding is building in Germany about prospects for government stability. Under pressure from all sides, the fractious three-party coalition under Chancellor Olaf Scholz may not last the legislative period up to the scheduled general election in September 2025. Scholz is trying to keep his creaking administration intact in view of the high-tension international environment, but the forces leading to break-up could soon become overwhelming.
UK’s relative stability amid storm-tossed seas

Jul 5, 2024 | omfif.org | Meghnad Desai |David Marsh |Nikhil Sanghani

Britain is set for a period of relative political and economic calm under Prime Minister Keir Starmer, but it cannot avoid turbulent crosscurrents from the rest of Europe and the wider world. The hitherto opposition Labour party looks ready for a possible decade in power over two consecutive terms. Its landslide election win on 4 July saw the ruling Conservatives heavily punished for a badly managed withdrawal from the European Union and a string of further policy failures.
How Labour should spend its ‘play safe’ dividend

Jun 20, 2024 | omfif.org | Meghnad Desai |David Marsh

Labour is assured of victory in the UK’s 4 July general election. The public desires revenge on a Conservative party that in 14 years of largely incompetent government has provided five failed prime ministers and, for many, declining living standards. Even within sight of a landslide win, Labour behaves in a standard way. It tones down its first and second draft policy programmes.
Landmark ECB cut vindicates Lagarde’s monetary strategy

Jun 6, 2024 | omfif.org | David Marsh

The landmark 0.25 percentage point cut in euro bloc interest rates caps an extraordinary period when the European Central Bank has coped much better than expected in mitigating strains on its 26-member governing council.
Big win for Labour and deal on Europe could produce UK rebound

May 16, 2024 | businesstimes.com.sg | Meghnad Desai |David Marsh

BRITAIN is only months from a general election. A victory for the Labour party, after 14 years in opposition, looks near-certain, but several developments could upset that outcome. A Labour win, a steady course for economic policy and a fillip to growth and investment through effective rapprochement with the European Union, could produce a rebound for UK financial markets and sterling.