From being ironical, ‘local currency’ is now of the essence

FT Alphaville (which is generally free) has an article on an Italian bank that has gone bust entitled ‘The curious case of Banca Carige’. It certainly is – the European Central Bank (ECB) is acting as a receiver! It states: The ECB assumed new powers in 2014, through the implementation of the Single Supervisory Mechanism… Read more

2019 forecasts

The FT has started the new year with a bang by asking economists for their forecasts for 2019. The article itself offers more detail but this is is a small selection of the pretty devastating comments: “Given the political shambles . . . the outlook is anything from lacklustre to catastrophic, but who knows?” said Diane Coyle, professor of… Read more

Nasty party government

Bloomberg has a piece headed ‘The Colossal Price of Theresa May’s Immigration Obsession‘. It suggests: [The]control of British borders is probably the most indelible of May’s red lines in the Brexit negotiations. Even though she voted remain, she was always the fiercest champion of the Conservative Party’s promise to cut yearly net migration to the… Read more

Happy New Year

Flip Chart Rick – he of Flip Chart Fairy Tales – and usually well worth reading – is presumably, along with Sajid Javid, even now peering into the the distance somewhere on the South Coast. Fortunately he has a New Year tweet rather appropriate for the times: “Can we swap Grayling, Farage, Redwood and Rees-Mogg for… Read more

The Rule of Law is in jeopardy

We now learn that Nigel Evans, Tory MP, falsely accused of sexual misdemeanors, would have voted against the legal aid reforms that he supported in government. And the ‘Secret Barrister’ says that, without Legal Aid, the Rule of Law collapses. He seeks to suggest that, just that, is occurring. It is nightmarish… This goes to… Read more

What have we done?

A rather moving – and now (sorry) belated Christmas thought for us from the German Green MEP, Terry Reintke. Hey UK friends. I just had to do this. MERRY CHRISTMAS 🎄💖🇬🇧✨🇪🇺 pic.twitter.com/uz9NpnoB2J — Terry Reintke (@TerryReintke) December 20, 2018  … Read more