Matthew Lynn is a financial columnist and author of ‘Bust: Greece, The Euro and The Sovereign Debt Crisis’ and ‘The Long Depression: The Slump of 2008 to 2031’
Shops are boarded up. More than four million people are on furlough with little idea of whether they will have jobs to go back to. Global trade has hit levels last seen a decade ago, and government deficits are soaring, while most developed economies have seen output shrink by 10 per cent, a collapse not
They are monitored by the firm. They don’t have the option of working for other companies. And they are entitled to all the protections that come with being an employee. The Supreme Court today potentially blew up Uber’s business model, and the model of many other fast-growing ‘gig economy’ companies as well, with a ruling
It is a rant worthy of Nigel Farage in his pomp. One of the leading figures within the European Parliament has launched a blistering tirade against the Commission’s ineptitude in securing vaccines. The EU is a world leader in making inoculations, he points out. And yet there is a shortage of supply in every country
It was meant to be a special relationship. After the tumultuous Trump years, President Biden was planning to reset relations with the European Union, Inherently liberal, rules-based, and engaged with climate change, it would be a natural ally, and far more so than a UK still tainted by Brexit. The Biden team were no doubt
You have to navigate the tricky etiquette of what to wear for Zoom meetings. That little black box in the corner has to be rebooted from time to time when the wi-fi goes wonky. You have to make your own sandwiches instead of popping out to Pret. And there is a severe risk of hand
As non-apology apologies go, it was right up there with the best of them. Speaking to MEPs today, the president of the European Commission Ursula von der Leyen accepted that some ‘mistakes had been made’ in the procurement of vaccines against Covid-19. Apparently the Commission had been a little too late authorising some of the
The bankers would all move to Frankfurt. The hedge funds would all decamp to Zurich. The asset managers would be off to Paris and Dublin, and the lawyers, accountants and consultants would swiftly follow them. For much of the last four years since the UK voted to leave the European Union, it has been assumed
It might be a bit late, but the supply will come on tap eventually. France’s Sanofi has partnered with Pfizer to start manufacturing its vaccine. BioNTech has just bought a factory in Marburg, Germany from Switzerland’s drugs giant Novartis to retrofit into a vaccine plant. With plenty of money being splashed around, production will arrive
Valdis Dombrovskis could probably do without his moment in the limelight. His spell as prime minister of Latvia, a country with a population of 1.9 million, was largely successful, at least until the collapse of a supermarket roof in 2014 brought his coalition to an early end. Shunted off to Brussels, he worked quietly as
The German Army had to join a NATO exercise with broomsticks because they didn’t have any rifles. It’s special forces became a hotbed for right-wing extremism. Working mothers were meant to get federally-funded childcare, to help fix the country’s demographic collapse, but it never arrived, and the birth rate carried on falling. Every child was
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On this week’s episode, Kate Andrews says the challenges of Joe Biden’s administration go beyond governing. (00:35) Plus, Liam Kennedy explains the history of Irish-American identity. (09:25) Finally, Jeremy Clarke wonders why everyone is a log expert (18:20)
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Why has the vaccine rollout turned nasty? (00:45) What’s the sex abuse scandal rocking France’s elite? (16:55) Have artists run out of new ideas? (28:35) With Daily Telegraph columnist Matthew Lynn; science journalist and author of Pale Rider: The Spanish Flu of 1918 Laura Spinney; Spectator contributor Jonathan Miller; journalist Anne-Elisabeth Moutet; Dean Kissick, New York
Armed guards are patrolling the perimeter fence of a sleek factory. Software experts are fending off hackers. Border officials are checking trucks and ferries, not for weapons or illegal immigrants, but for a mysterious biochemical soup, while spies and spin doctors are feeding social media with scare stories flaming one national champion or another. Welcome
There are plenty of different ways in which Matt Hancock, the health secretary, can be criticised for his handling of the Covid-19 crisis. Track and trace didn’t work, lockdowns were sporadic and probably too late, and the messaging wobbled all over the place. But comparing the British vaccination drive to France and the rest of
As news emerges that both Pfizer and AstraZeneca are cutting supplies of their Covid-19 vaccines to the EU by up to 60 per cent, EU officials are turning on the drug companies, threatening fines and lawsuits if they don’t speed up deliveries. The Italian Prime Minister Giuseppe Conte has blasted the delays as unacceptable and
It is petty, small-minded, mean-spirited, and childish. It is certainly not difficult to think of a few adjectives to describe the UK’s decision to refuse diplomatic status to the European Union’s mission in London. Diplomats, and European ones in particular, take matters of status, protocol and etiquette very seriously, and the snub looks, on the
He took the European Union to the edge of a no-deal Brexit, creating logistical chaos on both sides of the Channel. His high-handedness and patronising manner hardened positions on both sides. And his brinkmanship clearly failed, leading to a far more distant relationship with the UK than might otherwise have been possible. It would be
Rewind a few months, and it was all meant to be very different. With Covid-19 rampant across the world, the European Union would take charge of sourcing vaccines from the major drugs companies. Its massive buying and regulatory power, coupled with its finely-tuned administrative machine, would make sure its 440 million people were protected from
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On this week’s episode, author and financial columnist Matthew Lynn begins by arguing that the EU has already botched its Covid vaccine rollout. (00:25) Then, Will Knowland, formerly an English teacher at Eton, explains why he was dismissed from the school and criticises its ‘stifling monoculture’. (08:20) And finally, Mary Wellesley reflects on the lives
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Coronavirus vaccines are now being distributed across the world, but what are the challenges posed by its delivery? (01:30) Is Boris Johnson the SNP’s greatest weapon? (13:55) And is Prince Harry becoming more and more like his mother? (23:35) With financial columnist Matthew Lynn; former director at the McKinsey Global Institute Richard Dobbs; the UK’s
