The eurozone decouples from the world

Tuesday, November 8, 2011
By Paul Martin

By Gavyn Davies
FT.com

The G20 summit last Friday certainly did not measure up to the billing it was given by the UK Chancellor in September, when he said that policymakers had “six weeks to save the world”. Nevertheless, equities and other risk assets have risen markedly over the same period. As Goldman Sachs’ Jim O’Neill argues this weekend, this is probably due to improvements in economic data in the US, and to the rising prospects of a soft landing in China. A less optimistic way of summarising recent news is to say that Europe has now decoupled from the rest of the world. It is already in recession, which may prove to be a deep one, and the debt crisis is arguably getting worse, not better.

The Rest…HERE

Leave a Reply

Support Revolution Radio