Europe is in a real mess. And horses are to blame.
Never has the EU rejoiced in news such as the horsemeat = beef scandal. News is full of supply chain diagrams, DNA lab testers and Bute side effects. Horse meat is the main reason your average European is learning to duck and cover and recalling days of the Cuban missile crisis. Unless the EU sorts out the horsemeat debacle we are all doomed to eating grass from our gardens.
In the real world, the EU is continuing its contraction. London is being swamped with Spanish and Greek youngsters. The man who served me my horsemeat sandwich in Pret yesterday has a PhD in Economics. And he isn't alone. The young unemployment crisis is truly a nightmare. No wonder those who can are in London. Despite the UK being more debt savaged than Greece, London is a country in its own right. A bit like Barcelona it doesn't need the rest of its country. It is doing all right. It is doing more than alright (guardian).
Unlike Germany. The over valued EUR is starting to hurt this power house although it isn't stopping Spanards learning German and swamping its cities. Germany is also struggling with its own EU trading partners who are shutting up shop and buying Romanian made horse cars (Dacia) instead of velvet curtained Mercedes (bloomberg).
So what happens next? Well the EUR interest rate will be cut and the currency war will starting turning really nasty. Looks like 2013 is going to a great year for alpha. [Ed: What's alpha?]
They shoot horses don't they? (reuters)
French man sets fire himself after reading the new negative growth figures (euronews)
75% of Americans have read Chekov (zerohedge)
FSA to rename itself the FCA (Food Conduct Authority) and cause even more confusion.
[Happy Birthday to Fintag - we are 7 years old today! Valentines kisses all round ...]