Greece's economic situation is dire: it faces a severe recession if it remains in the Euro-zone and it cannot continue servicing its public debt without major sovereign debt restructuring.

A key lesson that should be drawn from the bursting of the U.S. housing market bubble is that the Federal Reserve can ill afford to be derelict in the exercise of its regulatory responsibilities.

A coordinated international response should embrace concrete monetary policy, fiscal policy, and exchange rate policy actions.

Major government intervention is needed to stabilize housing prices and arrest the alarming rate of foreclosure that threatens to add to bank loan losses.

In reminding us how very different the present global economic cycle is from previous postwar economic cycles, Martin Wolf makes a number of fine points. However, the one salient point that he does not emphasise is how very compromised are the public finances in many major industrialised economies including the US, the UK, Japan, Italy and Spain.

Under the right circumstances, it is likely that governments will undertake coercive measures, resulting in financial repression.

This book studies the dangers of protectionist trade policies in the European Union.

How might the present debt crisis differ from and be very much more serious than its predecessors?