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.
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.