Every time European policymakers take steps toward safeguarding the future of the single currency, something soon crops up that cast doubt on their plans. Earlier this year we saw the Germans lead two other countries into a u-turn on the treatment of ‘legacy’ bank funding – essentially, reversing an earlier agreement from all countries to let Spain and Ireland transfer (some of) the bank bailout costs to the pan-European fund designed to help
The announcement that Mark Carney will be the next Governor of the Bank of England came as something of a shock. The head of the Bank of Canada had previously ruled himself out of the role in August, but such was the Chancellor’s desire to get his man that he crossed the Atlantic himself to persuade him to apply for the job.
As I was trying to explain quantitative easing – again – to an analyst this morning, a rather odd thought occurred to me. The fallout from the Chancellor’s smash-and-grab on the Bank of England’s quantitative easing (QE) program has continued, with many economists pointing out that the Treasury has now damaged the independence and credibility of the Old Lady.
During the past week, I attended a couple of investor meetings to provide an economist’s view on what was going on, and on what 2013 might hold. The first was in London; the second was up north, away from the noise and rush of the capital. The second was also a chance to see how people outside London were coping with the grim economic environment.
After a brief run of relatively good news, things have taken a turn for the worse again. Despite UK unemployment falling on the survey measure, more people signed onto the claimant count in October, taking the overall level to its highest since July. Retail sales fell sharply in October as well, raising fears that
Is the establishment masking a giant paedophile ring and why are the press so quick to turn on the victims such as Steve Messham?
If the polls are right, most of the rest of the world should be pretty happy this morning. While President Obama was re-elected comfortably under the US electoral college system, the popular vote seems to have been more evenly split, with as little as 2 percentage points separating the two candidates.
Last weekend, I was in the German capital, speaking at an investor conference. As is normally the case at these events, there was a nice dinner the night before, and delegates largely took over a nice hotel in the centre of town.
Tony Blair recently hinted he is prepared to be the President of Europe and now he is making calls for such an all-encompassingÂ post to be made available.
Last night Pastor Cartor Conlon from New York’sÂ prestigiousÂ Times Square Church gave an emergency broadcast as Hurricane Sandy hit America’s eastern seaboard.
Jimmy Savile was given a knighthood by Her Majesty Queen Elizabeth II, but was she at any time in the past made aware of his taste in under-age girls?
Former leader of the Welsh Conservatives, Rod Richard, has namedÂ Margaret Thatcher’s former private secretary, the late Sir Peter Morrison as a Paedophile.