Thursday 25, October 2012 by Steen Jakobsen
Europe’s Indian summer to yield to a harsh winter of volatility
The EU Summit in June was hailed as a game changer and the big winner was the Spanish president Rajoy. Last week's EU Summit was a different story, as the announced banking union remains merely a plan to have a plan because Germany and Club North have decided that 'conditionality' is an integral part of a future compromise.
