There are very few economists I trust will speak the truth. But Mr. White, a former chief economist to the Bank for International Settlements (BIS) – the bank of central banks – and an advisor to Angela Merkel, has shown over the years he is still a honest guy.

The Telegraph called him “The economic prophet who foresaw the Lehman crisis ” and published an article about White’s worries about the world’s financial system. According to him, ‘the global elastic has been stretched even further than it was in 2008′