Sunday, 9 May 2010

Getting it right rather than ready by a Sunday evening

This weekend there are apparently frantic talks taking place in Brussels to come up with some new EZ stability framework. Meanwhile in London the messy result from the election is causing great urgency to discussions between two parties trying to hash out a pact to cooperate

There is a new meme, which highlights the impotence of politicians, which is that in regard to any major issue where they fear,(even mistakenly), that markets may fall precipitously that they've got to "solve" the problem and get out a press statement "before the markets open Monday".

Markets can plunge for all kinds of reasons -as was seen last Thursday, where still no satisfactory explanation has been provided, and sometimes the best policy is to tell the markets (whatever that means) that we're still working on the solution.

Surely it would be better to get it right rather than ready by Sunday evening.

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