Monday 16 March 2009

We need a bit of economic stability.

I think that we need a bit of economic stability for the UK. However, every Monday I look forward to the Roger Bootle article in the Daily Telegraph. This puts forward a possible eurozone disaster and points out the parlous state of some of the eurozone countries such as Spain and Italy. I personally think that Germany could bail out these two countries economically but would be unable to rescue the Spanish and Italian political classes, which have invested so much in the euro project. It would also be a shock to the German political class.
I would wonder if any euro calamity would affect the level of sterling, which is downward anyway but I suppose Spaniards and Italians could start buying Swiss Francs and U.S dollars as a safe haven.
However, whatever economic nasties happen, Spain and Italy would still have fantastic cuisines. I used to love going to an Italian restaurant and wonder after counting out the lire whether the meal was cheap or not. With euros and working tills actually in operation, this is less of a problem now.

No comments: