Tuesday 15 March 2011
But it is not just Japan, Iran is making incendiary statements about the move of UAE and Saudi troops/police to Bahrain. In Europe we know the clock is ticking on Spain and Greece as to when they default on their debt.
All of these are major global risks and the markets are not going to like them. To be frank, neither to do I; can any readers remember a period when there was so much macro instability in the world at one time?
(I remain an optimist, the Japanese will somehow save their situation from the worst nightmare, the ME will quieten down once Qaddafi wins [gutting!] and Germany will agree a haircut).