Short and to the point today. The picture above reminds us that the Chinese were playing football in 1609, pity they never got around to drawing up some rules.
At the moment it is all about
Cyprus and what is happening
there. Around the web, notably in Zero
Hedge and Money and Markets there is more attention to the wider implications
This is along the lines that if your bank balance or savings can evaporate in one place, given that the banks are so interconnected then they can disappear in another.
But in Project Syndicate an article points to another, rather bigger and more dangerous even, that might go bad:
Where it will end, if it does end, is an interesting question. For the
UK we must put
our trust in…….