Friday, August 05, 2011

EU v Markets - just loafing around

In the red corner we have the EU believing that it is valid and in the blue corner we have the markets believing that a combination of debt, demographics, social policy and lack of competitiveness mean it is not. Greece should default and the grand Euro project be consigned to the dustbin of history. Most people (myself included) don't really grasp the issue other than knowing it needs to be brought to an orderly conclusion.

Come on guys, if this doesn't get you off your sunbed what will ?

£124bn has already been wiped from FTSE since last Friday.

Perhaps the political class who are on holiday share my enthusiasm for the James Thurber comment "It is better to have loafed and lost than to have never loafed at all"