Day: 11 May 2011

Greece is at a standstill today as angry workers protest at the emasculation of living standards and available jobs. Never before has any country tried so drastic a reduction in GDP. The widespread expectation among economists not in a state of denial, is that Greece will have to default, no matter what. The big matter […]

Mervyn King has warned that higher fuel prices will push inflation to 5% before the end of the year. Normally this should be alarming news and, as this blog as often argued, presage a rise in interest rates. That is not going to happen, because higher interest rates would mean a stronger pound. The industrial […]