The 1980s were a period of unprecedented change for the City of London. "The New City" not only explains and accounts for these changes, but aims also to isolate and discuss the wider issues that arise from them.
Part 1 Tales of two cities: old and new; signposts to the new city; the clearing-house of the world; deregulation and the challenge of technology. Part 2 The city at work: divine services?; what the city does; city markets today - The International Stock Exchange, retail banking; merchant banking; the foreign exchange market; futures and options; money markets; insurance; fund mangement; the city's contribution; why London?. Part 3 Crazy years at The Stock Exchange: the market goes mad; acording to Cecil; straws in the wind; big, but not much of a bang; musical chairs in the madhouse; beware of the bull; the crash restores sanity; after the smoke has cleared, what changed?; further to go. Part 4 The death of banking: other people's money; the world's banker, or landlord to the world's bankers?; the shadow of debt; securitization; from big bang to big banks; culture shock; the international challenge; flash in Japan?; the challenge at home; bankers no more; has it all been worth it?. Part 5 Free-for-all on the foreign exchanges: the roller coaster; the foreign exchange market at work; what changes exchange rates?, the old, old story, the new pantomine; the magic of the chartists; exchange rate systems and cartels; Europe and the future; Europe and the future of futures; whatever happened to the speculators?. Part 6 Looking to the futures: origins; products; currency contracts; LIFFE's work, financial futures, interest rate contracts, contracts in money market instruments, the FT-SE index contract; punters; the tail wagging in the dog?; swaps. Part 7 Money and interest: wholesale money; the money markets; the nature of euromarkets; euromoney and eurocapital; boom and bust in the euromarkets; the discount market; the bank's work; who really sets interest rates?; gilts; the new gilt-edged market. Part 8 The new old lady: centrepiece of the city; banker to the government; bankers' bank; more than just a bank; the question of independence; the European dimension; the bankand the city; the Johnson Matthey affair. Part 9 From deregulation to rerefulation: the paradox; rape at Lloyd's; the new system; still in the club; insider dealing and slippage; the American way; the European way. Part 10 City limits?: the story so far; the single market; city of the future; too high a price?.
