An emerging market is a country where politics matters at least as much as economics to the market. - Ian Bremmer

Everyone's talked about Bank of America and Citigroup and the rest being too big to fail, but no, no, no. The most important point...is that the US must be perceived to be too big to fail.

Money talks: financing the periphery buys Berlin a leading role recasting the eurozone governance framework. The recent ‘six pack’ of legislative reforms hints at what’s to come: institutionalized fiscal discipline and an excessive imbalances procedure that protects against future moral hazard. The whole eurozone will tilt toward the German surplus model as we get more fiscal integration and more German leverage.

I believe that if you go and ask a chief executive of a Goldman Sachs or a BP, and they answer you honestly...they want monopolies, they want government subsidies, they want preferences – they're not interested in free markets."