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A Ukraine war would be ruinous for Russia

The economic blowback from more military action would threaten the Kremlin leadership

FT exclusive online comment

France’s established political parties appear more interested in high-level personality clashes than how life feels to the average citizen
– Howard Davies
In consumer politics, the best offer is more of your money, now
– John McDermott
The Fed’s doves have now essentially stopped arguing against either tapering or rate rises
– Gavyn Davies

Cameron’s coalition is a radical bazaar

The government has acted more radically than even a single-party Tory administration could

China must put reform pledges to the test

Economic protection means that Beijing forestalls innovation, writes Henry Paulson

Tax banks’ liabilities not their profits

Current approach boosts behaviour authorities wish to curb, write Mark Roe and Michael Tröge

Who has the right to self-determination?

From Scotland to Catalonia, and now Venice to the Scottish isles, independence is a fraught issue

FT Editorial

Russia can hit US where it hurts, on Iran

Moscow could sell Tehran missiles or undermine sanctions

Banks must prepare for escalating costs of legal problems

Fed thinks industry has been complacent about legal costs

Pimco’s past performance speaks for itself

But history is not always a reliable guide to future returns

Tranquil markets mask geopolitical risk

Trend is not necessarily investors’ friend this time

Contradiction now defines the Co-op Bank

£400m capital raising will take lender further from its roots

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