It’s a strange world we’re living in. This newspaper reported yesterday that, ‘Britain and the US joined forces to urge Germany to create a central Brussels body that could assume sovereignty over individual countries’ budgets and fiscal policies.’ Under pressure: German Chancellor Angela Merkel doesn’t want a Euro superstate – and can’t afford to finance one anyway […]

Stop press. The biggest news of the month is that Germany’s most recent bond auction failed horribly in attracting buyers.  Some 39% of the bonds available for sale were left unsold and had to be mopped up by the Bundesbank. This is extraordinary news. It means that contagion has now spread from Greece, to Ireland and Portugal, […]