As the twin pillars of international monetary system threaten to come tumbling down in unison, gold has reclaimed its ancient status as the anchor of stability. The spot price surged to an all-time high of $1,594 an ounce in London, lifting silver to $39 in its train. 14 Jul 2011 Monetary experts are increasingly disturbed by the pace of money supply contraction in Italy and most recently France, fearing that it could prove a leading edge of a sharp economic slowdown over the winter. 14 Jul 2011 The European Union has reached "crunch time" in the words of Greek premier George Papandreou. Its leaders can longer allow themselves the luxury of "indecisiveness, errors and tactical politics". 12 Jul 2011 The financial authorities face systemic contagion unless they take immediate and dramatic action. 12 Jul 2011 Italian and Spanish bond yields soared to post-EMU highs in a fresh day of credit turmoil after Germany blocked any meaningful measures to defuse the crisis. 11 Jul 2011 The European Central Bank has raised interest rates a quarter point to 1.5pc to curb inflation and signalled more to come, despite faltering growth in southern Europe and acute stress in peripheral bond markets. 07 Jul 2011 A chorus of policy-makers from Europe and across the world denounced Moody's downgrade of Portuguese debt as of financial vandalism, accusing the "Anglo-Saxon" rating agencies of driving states into bankruptcy. 06 Jul 2011 Whether or not Europe's monetary union survives in its current form, shrinks to a Carolingian core, or shatters, depends as much on abstruse legal arguments put forward on Tuesday in Germany's constitutional court as it does on the parallel drama unfolding on Greek streets. 05 Jul 2011
Ambrose Evans-Pritchard
Ambrose Evans-Pritchard is International Business Editor of The Daily Telegraph.
He has covered world politics and economics for a quarter century, based in Europe,
the US, and Latin America. He joined the Telegraph in 1991, serving as Washington
correspondent and later Europe correspondent in Brussels.
LATEST FROM AMBROSE EVANS-PRITCHARD
Return of the Gold Standard as world order unravels
Italy money supply plunge flashes red signals
Europe steps back from the abyss, for a day
Italy and Spain must pray for a miracle
German 'Nein' leaves Italy in turmoil
ECB tightens noose on Southern Europe
Europe declares war on rating agencies
Germany's judges hold the euro's fate in their hands
Sunday, 17 July 2011
Posts
