Crisis in Greece: Would you lend money to a person who can’t pay?

Lots of debate around who is the victim and who is the bad guy in Europe nowadays thanks to the financial crisis gripping Greece and, as a consequence, the rest of the European Union. It seems to point to the underlying fundamental difference between the way creditors and debtors think which is not too different […]

We must learn from Greece and stop relying on the government to save us

A friend of mine who just came back from a three-week holiday in Greece confirmed what we have been reading in the news about how a lot of the banks in the country have closed and there was a long queue for people who wanted to get cash from the few automated teller machines that […]

Fitch Ratings upgrade: Will the Philippines’ new ‘investment grade’ status spell good times ahead?

In John Landis’s 1983 hit movie Trading Places, Billy Ray Valentine, a bum and hustler played by Eddie Murphy is picked up from the streets, cleaned up and dressed in an expensive business suit as part of an experiment instigated by wealthy brothers Randolph Duke and Mortimer Duke. The made-over Valentine is then set up […]

Europe deserves $1 billion more than Filipinos do

So now much of Europe and (maybe soon) the United States are now in the bizarre position of being potential candidates for intervention by the International Monetary Fund (IMF). The IMF for its part is ready to do just that and marshall its stash of (or, perhaps more appropriately, ready access to) dollar reserves to […]

US not happy with strict Ph bank secrecy laws

Following the landmark decision coming from the Senate court trying the impeachment of Chief Justice Renato Corona to uphold a Supreme Court restraining order on the opening of Corona’s dollar accounts, much attention has now been directed to the Philippines’ “archaic” bank secrecy laws. According to also secret United States embassy cables revealed by Wikileaks, […]