Europe needs a lesson in deterrence

Europeans have been slow to recognise the world as it is rather than as they imagined

The latest from FT blogs

The claim that equities can be valued by comparing earnings yields to bond yields falls down both in practical and theoretical terms
– Andrew Smithers
I don’t buy shrill threats of permanent exile. But when and how cannot be answered definitively before the vote
– John McDermott
The Federal Reserve will not change its stance while there remains no impetus
– Gavyn Davies

Scottish link could cost England dearly

We may be condemned to remain in an unbalanced constitution, writes Vernon Bogdanor

Corporatism is to blame for inequality

Values such as solidarity, security and stability contribute to stifling policies, says Edmund Phelps

Why tax is trickier than Martian algebra

Only radical restructuring has a chance of creating fair taxation, writes Tim Harford

Gaza, Ukraine and antisocial media

The wonderful new tools of engagement are sending out the wrong sort of digital message

Hollande’s mood frays over economy

Lack of growth and job creation is a worry

FT Editorial

Corporate activists look into the cloud

IT sector’s messy transition to cloud computing draws raider attention

EU’s ‘covered bond’ decline is no loss

Regulators want switch to asset-backed securities for bank funding

UBS issues market squall warning

Prepare for a storm when insurance is cheap, Swiss bank says

Murdoch’s bid for Time Warner threatens TV quality

The fact that once-dominant cable companies face new online and digital competition is good

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