Tag: "Default"

Surprised by Cyprus? You shouldn’t be25th March 2013

If we are ever to understand opportunity and risk, we need to think for ourselves, and think well outside of the box. Or perhaps in Cyprus' case the holiday suitcase. The mainstream does none of this, stuck in silo thinking all of its own making, so no wonder they get surprised by events. If one can ever take satisfaction from a disaster, I was quietly pleased to have blogged on 20th February "the next default ... Cyprus ... a bail-in of bank depositors ... queues forming outside the doors

The Europe of Broken Dreams, Part 5: Default20th February 2013

I’ve taken an extra couple of days to prepare this blog, for the issues it raises and the potential threats it portends should not be taken lightly. You have been warned. We finished our previous blog, part 4, on Europe by suggesting that the struggling Eurozone states, who are in a mess as currency users rather than issuers, may have just three choices: 1) To meet the austerity criteria required by the ECB, which can’t work because even in the unlikely event that they eventually sort

The Europe of Broken Dreams, Part 3: Baffling Borrowings4th February 2013

The news from Europe continues to escalate. Funny how things were so quiet just a few weeks ago, but such is the calm before the storm. Over the last week we have more news from Spain. Their parliament is seeking to peel back regional business rules, under which the country’s 17 autonomous regions all have their own business regulations and permits. Want to start a business? You have to wait for all the permits! Want to become an interior designer? That’s a regulated

The day that HM Treasury showed us the future11th November 2012

Nothing but outrage should have greeted the news on Friday that interest on Bank of England owned gilts will be returned to HM Treasury to reduce the annual Government deficit. What we got instead from most media was a whimper. The news was not unexpected, but it starts our journey on the slippery slope of monetizing debt that will undoubtedly follow. This may in time become known as "The Road to Perdition." As the populace at large go about their day-to-day activities, most will