Theresa May preaches to Davos sinners
Theresa May always takes a pause before speaking. I wonder if it’s something she learnt from her father as he waited for the congregation to settle.
For the second time in a week, the prime minister has thrown down the gauntlet – this time to business executives attending the world economic forum in Davos.
Theresa May always takes a pause before speaking. I wonder if it’s something she learnt from her father as he waited for the congregation to settle.
There are many on my Twitter stream who find it grotesque that the supposed “masters of the universe” who failed to create a safe financial world order are still on top.
It was a far bolder speech than I expected from the PM to the capital of capitalism. He described himself as a “monetary radical”, which is a reference to the £275 billion of QE, and presumably the soon-to-be launched credit easing policy. It was a contrast with the European Central Bank and its lack of bazooka.
The UK is probably in recession already, but the growth of the economy since the Oct 2010 spending review is just one tenth of government predictions at the time.
It was quite some moment. Applause at the arrival of two new ministers in the Tunisian government alongside the new Central Bank governor at Davos, blogs Faisal Islam.
The Chancellor tells our Economics Editor that to pull out of the austerity plan would be to plunge Britain back into “the financial danger zone” – so no Plan B, but maybe a slower Plan A.
Faisal Islam blogs from Davos on the day that the bankers fought back.
If war was declared on certain tax havens Britain’s financial position could be fast transformed.
Economics correspondent Faisal Islam describes interviewing Conservative leader David Cameron, who says his party would start cutting the deficit this year, even if Britain relapses into recession.
Attending the Davos World Economic Forum, Conservative leader David Cameron knows that if he is elected, his country’s role in the world will be substantially different to that of his predecessors, blogs Faisal Islam.
I am in the south looking north, in Latin America, in Colombia. The disconnect is acute. The biggest event of the day? The appearance of the Mexican and Colombian presidents at Davos. No, don’t think Davos rocks here in the Andean foothills, on the rolling desert along the coast. But Latino presidents on the world…