Comment

Durably stabilizing the markets requires a much-needed transition from over-reliance on central banks to a more comprehensive policy approach. A column by Mohamed A. El-Erian.

Markets are afraid that when external risks do emerge, politicians and policymakers will be ineffective in confronting them. A column by Kenneth Rogoff.

There is no good reason for authorities to accelerate the move away from cash that will occur anyway. The cost takes the form of Big Brother being able to trace almost all transactions. A column by Victoria Curzon Price.

If prices remain low, as seems likely, the next decade might well see global trade stagnate, as the trade pattern «rebalances» from emerging economies to the established industrial powers. A column by Daniel Gros.

Brexit may offer Europe the chance for a new start. But the more likely outcome of Brexit would be the spread of financial crisis, with all of its political repercussions. A column by Harold James.

China should have moved to a much greater degree of exchange-rate flexibility when time swere better. It's likely that the renminbi will continue its rocky ride, taking global markets along with. A column by Kenneth Rogoff.

A United Kingdom that cuts itself adrift would be at risk of tragedy. A fractured EU would unleash untold dangers. And a world without a strong, unified Europe would be poorer and less safe. A column by Carl Bildt.

Both before the 2008 financial crisis and today, a dozen big banks dominate the world’s financial landscape. Time to check the progress on addressing the problem of banks that are «too big to fail». A column by Simon Johnson.

Nothing to shrink the deficit will happen before the presidential election. But tackling the spending and revenue components of deficit reduction should be high on the agenda of the new president. A column by Martin Feldstein.

The Democratic candidates would take the US closer to a European-style social-welfare state, whereas Republican candidates want to roll back Barack Obama’s tax and spending increase. A column by Michael J. Boskin.

The shift to negative interest rates is problematic. It's proof that central banking, having lost its way, is in crisis. The world economy cannot be far behind. A column by Stephen Roach.

Once the political, business, and media leaders of the United Kingdom start drawing attention to the hard facts of life after Brexit, voters will most probably decide to stay in the EU. A column by Anatole Kaletsky.