Monday, 10 January 2011
Welcome to 2011
As it happens with regards to the above, 3 stories have all appeared today which will be defining issues for the coming year:
1 - David Cameron is hosting a meeting of UK PLC Chief Exec's who are going to announce about 50,000 jobs to be created by them, in a show of what the Private Sector can do to ballast potential public sector job cuts. As the year goes on and the real public sector cuts start up then this movement in unemployment numbers will be a key barometer for the Coalition Government.
2 - Just yesterday the Prime Minister rounded on Public Sector bank bonus' and the neurotic Lib Dems have waded in further today. The idea of bonus' tied to lending is, when you think about it for a second, totally demented. State owned banks need to be prudent to avoid making more losses in order that one day they can be sold, here are their owners ordering them to be reckless. Bizarre, but likely to continue ad nuaseam.
3 - The biggie comes last, Portugal is set to try and raise money on the international markets this week, the appetite for this will tell us quickly how soon the Euro crisis will be upon us. A very bad week and it could be here already, a better week with Portugal submitting to German and French pressure for a bail-out could postpone the crisis for a month or two yet.