lördag 30 juni 2012

How long will the Euro deal last?

I have never believed that the Euro would last beyond 2030. I thought that was a rash judgement. As it is, the odds are against it being around in its present form in five years' time.

What about the latest deal? It has brought about a rally, but how long will it take for the markets to realise that it is a proposal to pour money into a series of financial black holes? And will the German parliament ratify it anyway? My prediction is that the Euro problem will be back in the headlines by the end of the "summer".

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Cardinal Cormac Murphy O'Connor

Please pray for the repose of the soul of Cardinal Cormac Murphy O'Connor Bishop of the Diocese of Arundel and Brighton for 23 years ...