Germany destroys Europe, for what?


Greece remains on the ropes, with no mates, except electorates!
Germany surges, France dips
United States: Retail Sales slow again
United Kingdom: Carney speaks with forked-tongue


Good morning,

Henry Kissinger famously said: “Who do I call if I want to call Europe?” Although cherished by Americans, a European retort to Kissinger’s remarks is: “pity the country that you ring and Mr Kissinger picks up the phone!”

That said, I have some sympathy for Kissinger this morning because European leadership is all over the shop and markets are currently grappling with the “who to listen to” problem.

Ahead of Wednesday’s Eurogroup meeting, for example, markets reacted positively to a story that the European Commission is working on a compromise solution, including the possibility of a six-month extension for Greece.

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Global Macro-Daily Note 13th February 2015


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