If you have a pension, or a string of ISAs, then you are watching – for the second time in a decade – your wealth destroyed. European stock markets are now 20 per cent off their peak in the middle of last year.
Were my father and grandfather alive, while regretting the way it’s been done, both of them would have raised a glass to the end of deep coal mining.
Redcar could be – yet again – the canary in the coalmine for a global problem. For what 2008-9 told us is: every time there’s a major credit event, the steelworks on Teesside shuts.
It was the unswayability of the left vote that put Alexis Tsipras straight back into the prime ministerial mansion he resigned from a month ago, calling a snap election.
Alexis Tsipras’ final election rally had the usual soundtrack and familiar props but a different cast. After more than a fifth of his MPs split to form a new left party, the inner core of party activists behind the stage were nervous. Would anybody more than the party faithful come?
The appointment of John McDonnell as shadow chancellor was the clearest signal Jeremy Corbyn could have sent. At the heart of the shadow cabinet there will be a group that buys Corbynomics.
It’s the size that matters. What political scientists knew, but the media didn’t bother knowing, is that the Labour Party’s membership changed under Ed Miliband.
China has stunned the world by devaluing its currency twice in two days. Or rather it has stunned that naive part of the world that believed China’s economy was okay.
There is now the basis of a deal to keep Greece in the eurozone – but it involves the crushing of a government elected on a landslide and the flouting of a referendum.
The Greeks arrived with a set of proposals widely scorned as “more austere than the ones they rejected”. The internet burst forth with catcalls – “they’ve caved in”.
The new Greek government proposals, published late last night are clearly based on those submitted by Jean Claude Juncker last Thursday, before the referendum. Many Greeks are frustrated, asking: what was the point of the referendum? It’s left many foreign observers saying the same.