The Greek election result last month eased us back from the edge of a euro collapse but we still can’t say we have a clear view of where we go from here. The new Greek government may have to soft peddle on its demands to renegotiate its bailout for example- at least ahead of the [...]
Last week it seemed we had been saved from collapse as an outline deal emerged to tackle the sovereign debt crisis in the Euro zone but, at best, these gains have now been put on hold by Greece’s decision to hold a referendum on the package. So if it was not clear before, it certainly [...]
So the ECB has now joined others such as Poland and Sweden in raising interest rates to combat inflation. Some fear that this may threaten what is clearly still a fragile economic recovery. In our view however it is unlikely to have a significant short term impact on growth. For one thing it has been [...]