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Howard Davies

Howard Davies

Writing for PS since 2009
92 commentaries

Howard Davies, the first chairman of the United Kingdom’s Financial Services Authority (1997-2003), is Chairman of NatWest Group. He was Director of the London School of Economics (2003-11) and served as Deputy Governor of the Bank of England and Director-General of the Confederation of British Industry.

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  1. Can Global Banking Rules Survive in a Fractured World?
    davies93_ Harold CunninghamGetty Images_BIS Harold Cunningham/Getty Images

    Can Global Banking Rules Survive in a Fractured World?

    Mar 6, 2025 Howard Davies warns that changes in US foreign policy jeopardize efforts to create a common regulatory framework.

  2. Are Global Banking Rules Finished?
    davies92_JonathanWilsonGettyImages_bankofengland Jonathan Wilson/Getty Images

    Are Global Banking Rules Finished?

    Nov 26, 2024 Howard Davies wonders if the Basel Committee’s recommendations on minimum capital requirements will ever be implemented now.

  3. The Missing Ingredient in European Competitiveness
    davies91_Dursun AydemirAnadolu via Getty Images_draghi Dursun Aydemir/Anadolu via Getty Images

    The Missing Ingredient in European Competitiveness

    Sep 26, 2024 Howard Davies thinks the bloc's economic future depends heavily on its ability to achieve capital-market integration.

  4. Is Private Credit Becoming the Public’s Problem?
    davies90_ANDREW CABALLERO-REYNOLDSAFP via Getty Images_garygensler Andrew Caballero-Reynolds/AFP via Getty Images

    Is Private Credit Becoming the Public’s Problem?

    Jun 19, 2024 Howard Davies considers whether, and in what manner, regulators should respond to the industry's explosive growth.

  5. Are Global Capital Rules Possible?
    davies89_Liu JieXinhua via Getty Images_michaelbarr Liu Jie/Xinhua via Getty Images

    Are Global Capital Rules Possible?

    Mar 29, 2024 Howard Davies thinks major Western jurisdictions' institutional differences could sink standardization efforts.

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  1. toubeau1_ Maja HitijGetty Images_marzvonderleyenweber Maja Hitij/Getty Images
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    Europe’s New Power Trio

    Simon Toubeau foresees Friedrich Merz, Ursula von der Leyen, and Manfred Weber boosting the bloc’s security and economy.
  2. ostry6_Anadolu GettyImages_canada_axe_the_tax Anadolu/Getty Images
    1

    Canada Must Learn From the Green Backlash

    Jonathan D. Ostry calls for climate policies to reflect social realities, instead of being based solely on economic efficiency.
  3. moyo33_Michael M. SantiagoGetty Images_USstockmarket Michael M. Santiago/Getty Images
    1

    Will There Be a Sustained US Market Selloff?

    Dambisa Moyo identifies several indicators that investors and business leaders should keep an eye on.
  4. ahuq7_Jim WatsonGettyImages_trump_executive_order Jim Watson/Getty Images
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    Trump’s Tariffs Are Illegal, but That Won’t Matter

    Aziz Huq sees an unlawful trade war as a window into America’s crumbling constitutional order.
  5. phassan1_Nava JamshidiGetty Images_afghanistanwomen Nava Jamshidi/Getty Images
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    Let Afghan Women Lead

    Palwasha Hassan & Shafiqa Khpalwak urge the international community to support some of the world's most repressed yet tenacious people.
  6. sierakowski116_Andrew HarnikGetty Images_trumpvancezelensky Andrew Harnik/Getty Images
    1

    Saving Ukraine

    By choosing to side with the aggressor in the Ukraine war, President Donald Trump’s administration has effectively driven the final nail into the coffin of US global leadership. Unless Europe fills the void – first and foremost by supporting Ukraine – it faces the prospect of more chaos and conflict in the years to come.

  7. op_livingston6_cienpies_handsmoney cienpies/Getty Images
    2

    Abundance and Its Discontents

    James Livingston

    For most of human history, economic scarcity was a constant – the condition that had to be escaped, mitigated, or rationalized. Why, then, is scarcity's opposite regarded as a problem?

     asks why the absence of economic scarcity is viewed as a problem rather than a cause for celebration.
  8. elerian175_Spencer PlattGetty Images_nyse Spencer Platt/Getty Images
    Free to read
    1

    What Role for the Bond Vigilantes?

    J. Bradford DeLong, et al. consider whether the return of the “bond vigilantes” will become a persistent issue for major economies
  9. blanchard17_Money SharmaGettyImages_von_der_leyen_modi Money Sharma/Getty Images
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    Maintaining Progress in a Post-American World

    Olivier Blanchard & Jean Pisani-Ferry identify four big global challenges that can still be tackled through “coalitions of the willing.”

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