Greenspan Speaketh

In his long-awaited memoir - out tomorrow in the US - Greenspan, 81, who served as chairman of the US Federal Reserve for almost two decades, writes: 'I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.'

In The Age of Turbulence: Adventures in a New World, he is also crystal clear on his opinion of his last two bosses, harshly criticising George W Bush for 'abandoning fiscal constraint' and praising Bill Clinton's anti-deficit policies during the Nineties as 'an act of political courage'. He also speaks of Clinton's sharp and 'curious' mind, and 'old-fashioned' caution about the dangers of debt.