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Europe’s lack of Unity in Adversity

I’m getting fed up with all this news about the world
crashing around our ears as I am desperate to get back to blogging about really
important things, like SunGard’s acquisition
of GLTrade or Google’s new mobile telephone.

But the headlines keep on coming and
so last
I wrote “that was the week that was”, and then I find that this week
was the week that was, wasn’t it? 

Earlier this week, I blogged about America’s dreams being in
tatters and today the headlines of the Times scream: Europe’s dreams in tatters.

But this was not
Europe’s dreams.  It was Nicolas Sarkozy’s. Sarkozy was trying to get agreement
on a pan-European basis for a €300 billion fund to match the American plan. It
has failed however, as Greece and Ireland have both created unilateral plans.

The bottom-line however, is that whichever way you look at it, Europe’s bank numbers are far more wobbly than
America’s … it’s no wonder Brussels is worried.

more …

About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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