The results of the EU-wide stress tests on banks are out. The EU banks seem to celebrate that all is well. Catastrophe was avoided. The capital that some of them would need to raise seem to be so low that a celebratory tone is raised in the sky. Tranquility needs a poem to be celebrated.
Welcome to a new version of Alexander’s Feast, originally composed by Dryden in 1697 and made into a choral by Handel in 1736. The poem describes the banquet organized by Alexander the Great when he defeated Darius and captured Persepolis.
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October 28th, 2014
The Tranquility of a Chaotic Disequilibrium: Alexander’s Feast and the Risks of Divorcing Credit from Liquidity
Image by © Dreamstime
by John Charalambakis
The results of the EU-wide stress tests on banks are out. The EU banks seem to celebrate that all is well. Catastrophe was avoided. The capital that some of them would need to raise seem to be so low that a celebratory tone is raised in the sky. Tranquility needs a poem to be celebrated.
Welcome to a new version of Alexander’s Feast, originally composed by Dryden in 1697 and made into a choral by Handel in 1736. The poem describes the banquet organized by Alexander the Great when he defeated Darius and captured Persepolis.
Continue reading…….
The views expressed on austriancenter.com are not necessarily those of the Austrian Economics Center.
Do you like the article?
We are glad you do! Please consider donating if you want to read more articles like this one.
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