Signature Coins & Bullion

As noted on Monday, the likelihood any agreement on Greece would last more than a few days, was minimal. The previous attempt, in July, was announced on a Friday, and had unravelled by mid morning on Monday. Furthermore, that agreement has still to be ratified by all member states three months later.

The latest scam is off the record briefings, immediately denied by heads of state. It really seems to me that the politicians are exhausted of ideas and are just throwing stuff on to the airwaves in order to “crowd source” the reaction of bankers and economists.

It is surely cheaper than hiring those bankers and economists to conduct war games on the ideas, and probably a lot faster, but is it really anyway to run an economy of 500 million people?

Mr Market has made it clear what is needed, and anything short, will be, er short.

In the meantime, an article in the Guardian newspaper by an Irish economist has sparked a rumour, unsubstantiated, that Ireland has begun printing new Punt notes. This is in addition to the speculation Germany has been doing that for years.

In all honesty, I would hope they are printing new notes of the old currencies.

The cost of printing a few notes is minimal. The cost of not having those notes could be catastrophic. Let’s hope, just for once, they are ahead of the curve on at least one thing.