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The article reports on the goal of the New Hanseatic League alliance of Denmark, Estonia, Finland, Ireland, Latvia, Lithuania, the Netherlands and Sweden to create reforms to the European Union (EU). Topics discussed include the impact of Brexit on the alliance, France and Germany's common economic position forming the basis for the package of reforms in the EU and the alliance's recruitment of Slovakia to sign its paper on the sovereign bail-out fund.

The author speculates on the reason why worldwide bond yields are low, and reminisces about the time when bond market 'vigilantes' patrolled central banks. The author suggests that globalization has had a negative effect on the market. The author cites a paper by Carsten Valgreen, which highlights the banks of Iceland and Latvia as case studies.