Who is John Ison? Who does he work for?
On the Euro crisis AEP has a good piece in today’s DT business showing Spain’s problem real estate was created in Frankfurt by the ECB cutting rates to boost the German manufacturing economy. Spain like Greece is now paying the price for German hegemony in the ECB. Germany is the problem not the Greeks or Spanish. Goodness knows what will happen when the self appointed German tax gauleiters arrive in Athens. I opine it will turn very nasty.
The markets are not fooled. Tonight the bail out fund was downgraded by a ratings agency Given this fund is backed by a number of AAA sovereigns it scarcely imbues one with confidence.
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