Monthly Archives: December 2011

The French attack upon the UK’s debts, deficits, inflation and growth rate looked like an attempt to deflect attention from France’s plunging rating. There have been two big differences so far between France and the UK. The first is the UK can print and devalue to keep its debt afloat, whilst France is locked into [...]

             Last night I was the guest speaker at the Bow Group’s Christmas drinks. I told them a short European fairy story about countries that wanted to share a currency with each other. I will write it out  nearer Christmas for this blog. It has either a happy or an unhappy ending – you can [...]

             It is intriguing to hear how popular the draft new treaty for the 17  is proving with admirers of more EU government. They are often the kind of people who think more government spending and borrowing are a good idea. This pact recommends the opposite. It proposes big cuts in spending and big [...]

               Some of you have complained about the idea of progressive taxation, some about the use of the word to describe a system which takes more from the rich than from the poor. I used the word because it is the term commonly used to describe tax systems which take more from those with [...]

There has been much sound and fury but little progress in Euroland in the last few days. Far from them saving the Euro, they agreed to differ on some things, and agreed to delay on others. We were told the Uk was isolated, yet most of the nine non Euro members have reservations and none [...]

                 The bad tempered EU meeting last week did little to save the Euro. We still do not know how much money they will have to rescue troubled countries, or to intevene in wobbly bond  markets.                Meanwhile, the non Euro members have seen the text watered down about their possible involvement in the [...]