Economic Progress

Why it's time to end the age of austerity

The Canary Wharf financial district is seen in east London November 12, 2014. Britain's Financial Conduct Authority (FCA) said on Wednesday it has imposed fines totalling $1.7 billion on five banks for failing to control business practices in their G10 spot foreign exchange trading operations. Under the terms of the settlement, Citibank will pay $358 million, HSBC $343 million, JP Morgan Chase $352 million, Royal Bank of Scotland $344 million and UBS $371 million. REUTERS/Suzanne Plunkett (BRITAIN - Tags: BUSINESS) - RTR4DUTS

The Canary Wharf financial district. Image: REUTERS/Suzanne Plunkett

Bill Emmott
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Economic Progress

  Austerity vs nominal GDP Growth 2009 to 2014
Image: Project Syndicate
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