Wednesday, 7 March 2012

This is just a test to make sure everything is live!!

It will be interesting if we have no mansion tax and a withdrawal of the 50 pct tax rate in the United Kingdom. Will Lib-Dem Vince Cable step down? He has been a pretty poor Business Secretary.

Monday, 27 February 2012

Will Manchester City slip up in the Premiership race?

I can't see Manchester City slipping up in the Premiership race against close neighbours Manchester United after seeing the sky blue side wallop poor old Blackburn Rovers, who did not make much of a contest of it.

Watford FC got turned over last Saturday by Southampton?

Dear Reader,
Watford FC got turned over last Saturday afternoon at Vicarage Road by Southampton courtesy of a Ricky Lambert hat-trick. A fan of one his former clubs Bristol Rovers says he is brilliant at deadball situations but lacking a bit of pace maybe to make the big time in the Premiership. Lambert's third goal was a penalty, which nearly burst the net. I know the Watford fans around me thought the penatly was won with a dive but I saw the push and immediately called the penalty, which was a doughnut thing to do, since I was supposedly supporting the home team.

As for things financial, I get the impression that the Germans want the Greeks to exit the euro. Being described as a "bottomless pit by German finanz boss Wolfgang Schauble, is not very pleasant for Greece. If the Hellenic Republic did leave the single currency, then it could lead to a collapse of the banking system, real riots on the street and a military coup to restore order.

I know Argentina's financial system fell apart when the dollar-peso peg was broken but the country had/has resources such as gas and cattle to help recovery, which the Greeks simply do not have. Perhaps, if the Greek population pay its taxes that might help in the long term but not when the economy has already contracted so much.

Greece and its islands are a major tourism asset but rather than an internal devaluation within the euro based on pay cuts etc, it would make sense for the reestablishment of the drachma. How to do this without the country fallinig apart will be very difficult.