The honourable financial merchant presupposes a functioning social order. Players in the financial market must invest in a common understanding of the game that is upstream of the rules.

The time is ripe to revitalise the culture of the honourable merchant and its application as an honourable financial merchant.

The German hyperinflation of 1923 is a formative historical event that should be understood as a warning today. If the stability of the value of money is sacrificed to political goals, there is a threat of complete collapse, not only of money, but of ...

Confidence is essential for the existence of EMU. But it can only be won if the ECB's policies are explained in a way that is comprehensible to the public. This is impossible in the case of the ECB's negative interest rate policy.