Monthly Archives: November 2010

            When the European political classes put their expensive spin doctors behind the need for a bail out, there were two assumptions behind  what they said. Firstly, a bail out for Ireland would stop contagion to anywhere else. Secondly, a bail out for Ireland would help solve Ireland’s problems. It is difficult to understand why [...]

Dear Shareholder,                   I am writing to reassure that all is going well with your company’s strategy. A few shareholders have asked me to explain what is going on in our  Irish subsidiary.  Let me confirm that we have every intention of supporting our Irish company, and are engaged in helpful talks with them so [...]

                        Yesterday Parliament was asked to debate the 5 Year Parliament Bill. Some of my colleagues felt strongly that this piece of legislation was wrong, tampering with a tried and tested system for keeping a successful government or Parliament for up to 5 years, but allowing an election to be held earlier if need [...]

            A couple of days after the EU cobbles together a package of loans to arrest the Euro crisis, Portugal calls a national strike against the austerity measures that are a central feature of the Euro project for an overborrowed country in the zone. It could scarcely be worse timing for the Euro’s cheer leaders. [...]

A number of  contributors to this site have said it is too easy for companies to bring in overseas employees from outside the EU  to fill lower paid jobs which locals could easily do. Yesterday we were told that in future a company has to be paying the individual concerned £40,000 plus to qualify for [...]

                       Yesterday was one of those days in the Commons when you need to count the spoons. The two front benches were in complete agreement about the need to lend money to Ireland. They did not seem to mind that we do not know how much, at what interest rate or for what purpose [...]

               On 2 May 2010 the EU and IMF agreed a large bail out for Greece.  Mr Barroso, the EU President of the Commission heralded this with the words “The eurozone is certainly regaining confidence. Our fundamentals are certainly good”. The Head of the European Central Bank, Mr Trichet, said the package “helps to [...]

                 There has been a sudden surpising worry by some that the VAT rise in the UK in January will reduce growth next year. The official confirmation of this from the OBR should not be a great or new revelation.The point is the growth rate is unsustainable given the very  high level of borrowing, [...]

              I have had all too many calls asking me whether I think David Young’s comments were true, or had in them grains of truth. I think the wisest thing he said was that his remarks were inaccurate and insensitive. He made a fulsome apology and the world should move on. Anyone can make a [...]

              Sometimes truth is stranger than fiction. Who would have thought the Euro authorities would by their words undermine their own creature, the Euro? It has been a bad week for advocates of the single currency.             As it is a political project, this will not worry its supporters unduly. They see this as [...]