I am indebted to Chris Charlton from the foreign exchange specialists, Centa Asset Management in Frankfurt who regularly produces fascinating views and opinions on the varying strengths of the differing currencies.
No reasonable person contests the idea that we should all pay our proper dues. Nevertheless, in a week when it has emerged that HMRC wrote off £10.9 billion last year (with the Treasury expressing ‘some surprise’ according to the Public
Beyond talk at the time from a few consultants that difficulties at the banks would herald in a period of consolidation in Swiss banking, not much thought was given to the wider implications of what was going on at Sarasin and Vontobel.
Oh please stop wringing your hands, politicians, and apparently blaming everyone else except yourselves.
The recent Long-Term Refinancing Operation (LTRO) from the European Central Bank (ECB), which enabled banks to borrow money at 1% for three years, has restored a degree of confidence in markets and boosted risk assets.
George Osborne's efforts last week to try and establish London as the Western centre for the trading of the Chinese currency should be congratulated however, some of the headlines seemed to get a little enthusiastic over something which is going to b