People look at a TS Automobili M67 during a fair for luxury and sports vehicles in Modena in northern Italy on May 27. Italy’s persistent low growth and high debt-to-GDP ratio make it a potential flashpoint of global financial instability. Photo: AFP
People look at a TS Automobili M67 during a fair for luxury and sports vehicles in Modena in northern Italy on May 27. Italy’s persistent low growth and high debt-to-GDP ratio make it a potential flashpoint of global financial instability. Photo: AFP
David Brown
Opinion

Opinion

Macroscope by David Brown

Why US and European central banks could be source of next global financial crisis

  • The last thing the global economy needs is another potent shock just when it is digging itself out from the effects of the pandemic
  • The worry is that those in charge of safeguarding global financial stability could be responsible for the next big credit event which further delays recovery

People look at a TS Automobili M67 during a fair for luxury and sports vehicles in Modena in northern Italy on May 27. Italy’s persistent low growth and high debt-to-GDP ratio make it a potential flashpoint of global financial instability. Photo: AFP
People look at a TS Automobili M67 during a fair for luxury and sports vehicles in Modena in northern Italy on May 27. Italy’s persistent low growth and high debt-to-GDP ratio make it a potential flashpoint of global financial instability. Photo: AFP
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