by Mark Sutcliffe

The world in recession: How bad do you want it to be?

You could be forgiven for being confused if you were in search of a clear answer concerning the state of the global economy. How bad is it? The answer would seem to be, how bad do you want it to be? The doom mongers and the optimists can be found in equal measure.

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Argentina in crisis

Commenting on Argentina's default on paying its $132bn debt, a Bank of England spokesperson stated, ‘Everybody was expecting this, or something like this, to happen', you know that the current crisis in Argentina was inevitable. It was a question of when, not if.

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The euro has landed

The following observation, made by David Smith in The Sunday Times, sums up what, for most people, is the key issue concerning the euro, which is: what next? Where will the euro lead?

“Monetary union has long been seen in Europe as a stepping-stone to political union, and it is easy to see why. If the ECB in Frankfurt is taking decisions on interest rates for 12 countries and 300m people, the corollary, say the integrationists, is that other economic decisions, including tax and public spending, should be taken centrally.

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