"For the last five
years, Greece has been living for the next loan tranche. We have resembled drug
addicts craving the next dose,"..."What this government is all about
is ending the addiction," Finance Minister Varoufakis of Greece referring
to the country's 240-billion euro ($270 billion) bailout.
http://www.dw.de/greek-fm-varoufakis-time-for-greece-to-go-cold-turkey/a-18229108
- Greece, it is now accepted that ; cannot manage its public debt burden of more than 175 percent of its economic output, or 320 billion euros (240 billion pounds).
- Shell announced cuts in spending. That should affect Middle East already weighed down by falling oil prices.
- Chinese data does not inspire confidence. Its PMI was just below 50, the benchmark for optimism that factories are producing. Chinese efforts at being the Workshop of the World may have been adversely affected by the recessionary trends elsewhere, particularly in Europe.
- UK had some good news Markit/CIPS UK Manufacturing Purchasing Managers' Index (PMI) rose to 53.0 from 52.7 in December: is it a return to alignment with North American growth cycle. Canadian & USA PMI which are due might throw some light on expectations of growth there.
- But Governor Carney's statement that inflation might turn minus should worry over chilly European winds.
Views expressed without any risk or responsibility.
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