Kenneth Durham – författare

During the 1980s the City made headlines that were not confined to the financial pages. There was Big Bang on the Stock Exchange, the 1987 "crash", the Johnson Matthey bank failure, the Guinness scandal and others at Lloyd's and elsewhere. It was a decade of unprecedented change. "The New City" offers a guide to all of these developments and to many more. As well as explaining the functions and operation of the various markets that make up the City - markets for shares and for foreign exchange, for futures and options and eurocurrency, for bonds and securities and banking - every effort is made to analyze the changes that have occurred and to discuss their implications for the future. The impact of ERM membership, of the single market and of a common currency are all considered. The question of independence for the Bank of England is addressed and exchange rate and interest rate policy are given full treatment. "The New City" looks to the future. Can the City go on being successful? How serious is the competition from Germany and Japan? Do investors need greater protection?It is the first full account of the post-Big Bang, post-Crash, post-Guinness, post-Thatcher City to be written for the non-specialist.