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The year ahead…

Perhaps because this is the grimmest month of the year (although its a beautiful day at the top of the Tate Modern where I am typing this) its all a little too much to concentrate on gloomy news, but the news from Greece is looking bad (again).


This is probably led to the credit agencies threats to downgrade various euro states (including France….no laughing at the back) simply because of their exposure to the Greek market. 

And whilst we in the UK may feel relatively relaxed about that, the difficulty is that a Greek euro exit will drive the markets to target Portugal and Ireland as the next victims

I call them victims reservedly. Its difficult to feel much sympathy for these states frankly but the derailing of the Irish recovery could be very difficult for the UK. Unlike Greece, the uk banks have considerable exposure there

I always tend towards optimism whilst others will be wallowing in gloom, but I do believe that 2012 is going to be a very significant year indeed. One way or another

Have a good one…

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