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"The destruction of the Iron Curtain on November 9th 1989 is still the most remarkable political event of most people’s lifetimes: it set free millions of individuals and it brought to an end a global conflict that threatened nuclear annihilation."

"The East Berliners rushing to the West were not just fleeing the country, they also came in search of fridges, jeans and Coca-Cola from supermarkets. Communism, for all its tanks and missiles, was plainly a less efficient economic machine. The Soviet Union crumbled because it could not produce the goods."

Japan's technology champions - Invisible but indispensable
A host of medium-sized Japanese electronics firms have developed dominant positions in many areas of technology. Can they keep them?

"For example, around 75% of motors for hard-disk drives in computers come from a firm called Nidec; 90% of the micro-motors used to adjust the rear-view mirror in every car are made by Mabuchi. Often the products are components, materials or equipment used to make other equipment: TEL makes 80% of the etchers used in making an LCD panel; Covalent produces 60% of the containers that hold silicon wafers as they are turned into computer chips."

Europe's troubled banks - The muscles from Brussels
Decisive action on zombie banks ... from the European Commission

"Europe’s competition commissioner had imposed harsh penalties on the banks that received the biggest bail-outs in Europe. Britain’s two monsters, Royal Bank of Scotland (RBS) and Lloyds Banking Group (LBG) are the first to get the treatment. "

"In the preceding week ING, a Dutch insurance and banking conglomerate, surprised investors by announcing a break-up and a capital raising. Germany’s Commerzbank and WestLB, and Belgium's Dexia and KBC are next in the commission’s line of fire."

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