So, "Merkozy's" plan to plan for a plan has had the desired effect - in the short term. The bear squeeze in equity markets has continued and their sick patient, the euro, has had a further remission.
The plan thus far shows little substance over form, but there is an almost palpable feel-good factor around as snippets of good news – strong US retail sales announced two Fridays ago – hit the headlines. At the same time, consumer confidence has reached multi-year lows, propelled no doubt by the doom and gloom of a few weeks ago. Consumers are, however, a fickle bunch. They may say they are less likely to spend, but then along comes the new “iThing” from Apple and it is a case of “shiny thing make it better”. On the agenda at the G20 meeting would have been a number of cunning plans,...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes