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 »
Germans struggle to make us laugh and are, according to a poll conducted in summer, the least funny nation in the world. Americans can make us laugh like drains coming top of a poll to find the funniest of 15 nationalities. The verdict on the UK, lagging in seventh place, was “you’re not as funny
Oh those Germans and Their Wacky Sense of Gallows Humour.. Read More »
The updated weekly USA unemployment figures were published on Thursday. The number of Americans filing claims for jobless benefits hardly changed since the previous week. Applications for unemployment insurance payments decreased 1,000 in the week ended Oct. 8th to 404,000, Labor Department figures showed today. Economists forecast 405,000 claims according to the median estimate in
Can Desperation Lead to Inspiration? Read More »
When you reach the end of your rope, tie a knot in it and hang on – Thomas Jefferson The president of the European Commission, Jose Manuel Barroso, set out a plan on Wednesday designed to finally bring to an end the eurozone debt crisis. Mr Barroso stated that banks must set aside more assets
When you Reach the End of Your Rope, Tie a Knot in it and Hang On Read More »
The same headline phrase was constantly repeated on the mainstream media tv and radio channels on Thursday after the BoE MPC announced it was reverting back to the last trick in it’s toolbox, more quantitative easing. “The Bank of England has announced it is to inject £75 billion directly into the UK economy by way
Quantitative, Qualitative or Just Desperate? Read More »
The UK Conservative party’s annual conference came to an end on Wednesday. Rumors have been circulating that the UK coalition government is about to cave into intense lobbying pressure and reduce the fifty percent rate of tax as, in the opinion of many Conservatives, it doesn’t actually provide a great deal of extra revenue. The suspicion is
Black Swan, Unemployment and Anonymous Read More »
The same headline is constantly being regurgitated by the usual financial media outlets day after day, it repeats something like this; “US Stocks and the Euro fall as Greece concerns outweigh positive U.S. economic data..” Or we read something similar to the following most days of the week; “Large U.S. bank stocks fell sharply on
Stocks Falling Due to Eurozone Debt Crisis Read More »
Stocks retraced their earlier gains on Wall Street on Tuesday closing 1.33% up on the day having spent the majority of the day up circa 200 points or 2%. Despite the waves of optimism due to the various solutions floated by the official bodies in Euroland the question of Greece once again reared its head
Wall Street Stocks Close 1.33% Up Read More »
