Is it irony or coincidence that as we welcome our seventh billionth global citizen into our world global unemployment reaches 200 million according to the ILO. The International Labor Organization said in its report that about 80 million net new jobs will be needed over the next two years to return to pre crisis employment […]
The OECD Pricks the Eurozone Bubble as 200 Million are Feared Unemployed Read More »
George Soros, who achieved fame when he bet against sterling remaining within the Exchange Rate Mechanism in the 1990s, believes the 50 percent “haircut” for private bond holders agreed last week as part of the overall bailout package will only reduce Greek debt by 20 percent. In Soros’ opinion it’s insufficient to stop an economic
Anyone prepared to bet that the Eurozone crisis is over? George Soros isn’t… Read More »
Isn’t the sense of relief contagious? It really is like a massive weight lifted off your shoulders. It’s taken months to reach this situation and the unbridled joy I’m experiencing is difficult to explain and contain. Forget the cobbled together €1 trillion fund, I’m actually relieved that I’ve finally got a reprieve from having to
Breathe, Release, Repeat and Party Like it’s 1974 Read More »
You don’t have to dig too deep to discover the real worry amongst EU ministers. Whilst they’re being extremely coy with regards to ‘allowing’ or actively encouraging Greece to default, that decision has probably already been made. If not then the gambit of pushing banks as far as possible should uncover the banks’ collective breaking
Greece is just so last year whilst Italy is too big to fail Read More »
There’s many of us market commentators and analysts as sick of using the same tired metaphors as we are of listening to (or reading) reports with regards to the EFSF, the troika, the EU etc. Just when you think this can has no more metal left on it to kick down the road the various
Can You Kick It? Yes You Can Read More »
I have to confess I’m a little bit spooked, in Monday’s between the lines I tongue in cheek posed the question “who was left to offer up an opinion on how to solve the Eurozone crisis?” I jokingly suggested the Pope..gulp..and today the Vatican publicizes their opinion. If I go missing for a few days you’ll know
The Vatican, Spivs and the EFSF Read More »
“Capitalism has destroyed our belief in any effective power but that of self interest backed by force.” – George Bernard Shaw.. I experienced a surreal moment when channel hopping late on Friday evening. I’d switched on the tv to catch up on the news and began flicking through the various news channels. When I left
Greece’s government voting in the austerity bill came as no surprise. The government is now a safe bet to get their next tranche of pocket money (circa €8 billion) courtesy of the troika which should ensure they can firstly fill up the cash machines this weekend, not that anyone has any wages or savings to
Debts By A Thousand Cuts Read More »
No sooner had the grand plan to rescue the Eurozone been touted it was summarily squashed and just when you think the French and German leaders couldn’t possibly fit in another meeting Sarkozy thanks his wife for giving birth and hops onto a plane to Berlin. Quite why he and Merkel can’t use Skype remains
Eurozone Crisis, It's As Clear As Mud Read More »
So that’s it, the debate is over, the bunting can be put up, street parties can be held in every street throughout Europe as ‘D’ day is with us, the bail out fund lives and we can all breathe a little easier. Other than Bloomberg copy writers obviously, who’ll now have to find someone else
The €2 Trillion Eurozone Bail Out Fund is Born Read More »
