Capitalism simply isn’t working and here are the reasons why | Will Hutton | The Observer 

Suddenly, there is a new economist making waves – and he is not on the right. At the conference of the Institute of New Economic Thinking in Toronto last week, Thomas Piketty’s book Capital in the Twenty-First Century got at least one mention at every session I attended. You have to go back to the 1970s and Milton Friedman for a single economist to have had such an impact.

Greek banks’ stress test expected to show 5 billion eur capital need: sources

ATHENS (Reuters) – Greece’s four big banks are expected to need a total of about 5 billion euros ($6.9 billion) in extra capital, based on a second stress test by the central bank, two senior banking sources told Reuters on Friday.