Community Views : What’s on the boards today….16th Dec 2010

16th December 2010

The Daily Telegraph

"Germany has refused to give any ground on Europe's rescue machinery despite the escalating political and economic crisis across much of the eurozone periphery, guaranteeing a bitter clash with EU partners at a crucial summit in Brussels Today."

zeusgoose says: "For Merkel to take any other course would be political suicide. She is a realist. Piling debt upon debt onto fiscally weak nations merely delays the solution….and increases the severity when it all collapses. At least she is listening to the electorate."

The Daily Mail

"VAT rise is here to stay, says Osborne: Chancellor dashes hopes that move is temporary"

John says: "Well you heard it from the horses mouth. Vat, the only tax that affects ALL students, pensioners and families will stay up, but the 50p tax that only affects the wealthiest will come down…as soon as the government coffers are fuller. Translated from Tory speak: "you all have too much money, unless you are loaded and then you don`t have enough"

This Is Money

"Five top dividend income shares for 2011"

City Wire

"Financial Services Authority (FSA) director of conduct policy Sheila Nicoll has resisted calls from MPs to relax the deadline to comply with the retail distribution review (RDR)."

Andy Watt comments: "It's so disappointing that the messages are now so mixed. I'm 25 years into this industry that I love and have spent some £500 on 3 attempts of RO1 gaining 63/64% then passing this week. 5 exams to go. Its human nature to welcome a route which would render more exams not being necessary. Grandfathering has got to be based on relevant experience and not just a broad based allowing of all level 3 advisers. Surely as an industry we can work something out here to allow existing advisers with relevant experience to get to level 4 without the need to take the eyes off the ball of client focus for a prolonged period."

 The Financial Times

"BP shares fall after US sues for $21bn BP faces penalties of $21bn-plus if found fully liable for damages in a lawsuit over the oil accident in the Gulf of Mexico launched by the US government on Wednesday."

The Wall Street Journal community is also discussing this:

Ellis Wyatt says: "Didn't BP already set up a $20 billion slush fund? Why does the government want more? And what is to clean up? Where is all the oil?"

The Guardian readers are saying:

Koolio: "The shares rose yesterday on some wild talk of a takeover by Shell and a couple of other potentially positive stories for the share price. I think the news of the legal worries is not really a surprise. Today's fall returns the price to where it was yesterday morning, no?"

And in the Telegraph:

whatevernext comments: "What does Cameron think of all this? – perhaps he's more interested in winning the 2026 world cup for England or employing another one of his toadies. Does he not realise he will have less to steal from our pension funds if BP is destroyed?"

City Wire has taken a different angle:

"WikiLeaks has released cables claiming BP covered up an oil leak in Azerbaijan. The alleged leak, which bears hallmarks to the one in the Gulf of Mexico, is said to have happened some 18 months before the Gulf of Mexico incident."

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