Sunday, 10 August 2008
Italians Consider Quitting The Euro.
Tim Hedges writing from Italy on his blog (also in Spectator Coffee House) tells us that Italians are considering 'temporarily' quitting the Euro. The Italian Euro, with serial numbers beginning with an 'S' is heavily weighed down by the Italian government's stratospheric levels of debt, and costs an extra .5% per annum to borrow compared to German Euros, which have serial numbers beginning with an 'X'. This interest rate gap is rising, creating a growing split of value.
Posted on The Tap Blog
Bush To Back Down On Kosovo
The discussions at the UN over South Ossetia betray the chronic inability of President George Bush to make good decisions. Only now, it appears, is he aware that he cannot have success for all his programmes in all corners of the earth at once. Why he didn't connect before that the Russians were serious in their threats concerning Kosovo and his attempts to expand NATO to include Russia's neighbours is hard to fathom. They were made explicitly enough.
Posted on The Tap Blog
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