Another FPC member, Martin Taylor, sticking the boot in this morning before the parliamentary committee
- Eurozone monetary union ia “vulnerable configuration” without fiscal union
- if Greece were to leave the Eurozone the impact would depend on how the ECB handled other peripheral countries
- if Eurozone can no reform itself then it won’t just be Greece which would be better off out of it
- its a “tragedy” that Germany sees need for monetary and fiscal vigour at all times
- Greek debt looks unsustainable
If creditor nations believe they will get their money back from Greece then we are in a worse situation than I thought
Doesn’t he realise it’s all one very expensive game of poker?
Here’s some background on Taylor. He has been Chairman of WH Smith plc (1999-2003), Chief Executive Officer of Barclays plc (1993-98) and Courtaulds Textiles (1990-93). From 1999-2005 he was an adviser to Goldman Sachs International.
Meanwhile GBPUSD edges up in steady fashion to 1.5069 after a couple of failed attempts below 1.5000. Shorts covering and some bids in GBPCAD and GBPJPY too
EURUSD also underpinned but struggling to make gains above 1.1350
BOE’s Taylor- first one to blink is a ninny
