18th February 2025
Eurostat estimates for Q3 2024 of Eurozone and EU General government gross debt
My recent research on the shadow liabilities of the EU member states threw up an extraordinary question: what is EU GDP actually?
You can download the full research here.
For my 2021 book on th subject of the shadow liabilities I backed EU […]
My 2023 book
13th February 2025
The EU’s shadow borrowing has continued to increase, as is shown by a high-level update on the 2021 figures which were the basis of my book ‘The shadow liabilities of EU Member States, and the threat they pose to global financial stability’, which was published by The Bruges Group in 2023.
You […]
Open Banking’s activity statement
3rd February 2025
Introduction
Vyne has folded its tents in the UK, or rather it has closed its Open Banking portal, apparently one offering a top customer experience and with traction into a large customer base:
https://www.linkedin.com/pulse/vynes-withdrawal-uk-open-banking-supplier-proves-dead-bob-lyddon-6xk3e
This does not augur well for this activity area: a top player cannot make Open Banking work financially. That […]
Publication date – 3rd February 2025
The UK now needs another Brexit referendum, otherwise we are going to go around this thing for 50 years and tear ourselves apart.
In the years since the 2106 referendum it has been left to politicians to determine what Brexit is, notably Prime Ministers who have gotten themselves installed for multi-year […]
2nd February 2025
Introduction
Rachel Reeves is planning to ‘boost growth’ through mechanisms that owe their genesis to Private Finance Initiative and the EU approach, known as InvestEU. These are high-cost schemes funded with expensive debt, and which result in high costs for the general public. The high costs come through as either higher taxes, or high […]
ONS headline page for October 2024 analysis of the UK’s public finances
28th January 2025
Lyddon Consulting has just issued a paper about the £200 billion deduction that the Office for National Statistics (ONS) makes to the national debt on account of ‘Bank of England’.
You can download the full paper here.
The ONS deduction reduces its initial measure […]
Deputy Governor’s speech positioning the new bailout facility
15th December 2024
The Bank of England (the Bank) has designed a so-called ‘Contingent Non-Bank Financial Institution Repurchase Agreement Facility’ (CNRF).
It is a bailout facility for Non-Bank Financial Institutions, and two types are specifically named: pension funds and ‘LDI funds’.
The CNRF is an admission of failure, indeed an admission […]
27th November 2024
Introduction
The Bank of England (‘the Bank’) has given Labour seven free gifts during its first five months in office.
This is not surprising as the Bank pursued Labour monetary policies throughout the Conservatives’ fourteen years of nominal rule.
But the eighth proposed freebie has blown up in their face – thanks to Labour’s mismanagement of […]
Header of Rachel Reeves’ CV on LinkedIn
20th November 2024
Introduction
Rachel Reeves’ CV on LinkedIn may have been correct after all in claiming that she was an economist at Bank of Scotland and not head of paperclips at the Halifax. Who would not want to hush up being a senior figure at HBOS during the time it […]
12th November 2024
At the bottom of this post you will find click-throughs to the key documents on the financial catastrophe visited upon the UK – and continuing to be visited upon the UK every day – by New Labour.
Private Finance Initiative – PFI – was a ‘structured finance’ scheme to raise new money via borrowings […]