Cristiano Cantore Profile picture
Divemaster and Prof. of Economics / Nato il 5 Maggio / I tweet about Football, Economics and Politics. #finoallafine
Oct 22, 2018 5 tweets 4 min read
Thread: Nobel Jean #Tirole gave a public lecture at UCL tonight: 10 years after the #financialcrisis where do we stand. Key points:
1)#Finance is good if used and regulated properly. We seem to be making the same mistakes of 10 years ago. #Subprimes are up again in US. 1/ 2) Its crazy for banks to hold a lot of their nation’s sovereign bonds. It creates a #doomloop. a bank fails>government needs more debt to bail it>brings down sovereign bond prices and more banks under stress> more public money needed. And yes he used Italy as an example.2/