Was on holidays with family for about 15 days in Europe and in the UK. LIBOR scandal, Wimbledon and rains were the feature of the stay in UK. Internationally, the Lake District seems to be an undersold destination compared to, say, Switzerland.

Quite a few things have happened in this period. China cut rates. England increased asset purchases. ECB cut deposit rates to zero. Cannot cover them all. Or, might cover them as and when occasions demand.

Soon after the EU ‘ground-breaking’ summit, I wrote a column in MINT that it was a non-event. You can read it here. Gavyn Davies adds something more to it in his blog post:

the Wall Street Journal reports that last week’s summit did not, after all, agree that bank capital injections should by-pass the balance sheets of sovereign governments. Instead, governments will reportedly be expected to guarantee these capital injections, which greatly waters down the force of the statement made after the summit.


DISCLAIMER: This is an archived post from the Indian National Interest blogroll. Views expressed are those of the blogger's and do not represent The Takshashila Institution’s view.