The Olympics Are Over and Now Itís Back to The Grindstone

13 August 2012 - Which Way to Pay

    



The Olympics Are Over and Now Itís Back to The Grindstone

Now that the Olympics has ended it is time for most of us to return to work in the hope that the greatest show on earth will have done some sort of good for business and the economy will pick up over the next few months. Realistically things arenít looking that positive, but if nothing else at least the Olympics lifted everyoneís mood for two weeks during one of the coldest and wettest summers on record.

Unfortunately things in Europe arenít looking great. Greece is trying to raise 3.125 billion Euros by auctioning three month treasury bills. While it is good to see the Greek government trying to raise funds yet again it is too little too late. EU IMF bailouts are supposed to be keeping the Greek Government afloat but due to political deadlock it will still be about two months until their next instalment is paid.

The precarious nature of the Greek situation is a good reflection of what can happen to the rest of Europe.  There arenít really any signs of financial improvements in any of the EU countries and until there are European leaders need to pull their heads from the sand and get back to work.
 

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