There are spectacular differences between financial markets on the Continent of Europe on the one hand, and in Britain on the other hand. In Britain, the market is really the City of London. It is a free market, and it controls most of the flow of savings to investment. On the Continent, either a few banks or government officials direct the flow of funds to suit their economic plans. In Germany the flow is directed by all-powerful banks. In Britain there is more free interplay of market forces and far fewer regulations, rules and "red tape". A French banker summed it up this way: "On the Continent you can’t do anything unless you’re been told you can; in England on the other hand you can do everything as long as you haven’t been told not to."
There are many basic reasons for these differences. One is that Continental savers tend to prefer gold, cash or short-term assets. They invest only 10% of their savings in institutions like pensi
A. Savings and the Growth Rate.
B. Banking and Finance: Two Different Realities.
C. Monetary Policy in Britain.
D. The European Continent and Britain.
There are spectacular differences between financial markets on the Continent of Europe on the one hand, and in Britain on the other hand. In Britain, the market is really the City of London. It is a free market, and it controls most of the flow of savings to investment. On the Continent, either a few banks or government officials direct the flow of funds to suit their economic plans. In Germany the flow is directed by all-powerful banks. In Britain there is more free interplay of market forces and far fewer regulations, rules and "red tape". A French banker summed it up this way: "On the Continent you can’t do anything unless you’re been told you can; in England on the other hand you can do everything as long as you haven’t been told not to."
There are many basic reasons for these differences. One is that Continental savers tend to prefer gold, cash or short-term assets. They invest only 10% of their savings in institutions like pensi
A. The British tend to regard money as an end, whereas Continental European consider it a means to an end.
B. The British invest only 10% of their savings in pension funds.
C. On the Continent you can’t do anything unless you have been told you can.
D. Intelligent young men who want a career tend to go to civil service on the Continent.
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