Community Views : What’s on the boards today….17th Jan 2011

17th January 2011

The Telegraph

"Important members of Chancellor Angela Merkel's coalition in Germany are resisting plans for an increase in the EU's bail-out fund to protect Spain from contagion, complicating a crucial meeting of EU finance ministers on Monday."

James Andrews says: "It is past time to declare the Euro a failed experiment."

The Independent

"Europe's debt crisis will top the agenda when finance ministers from the 17 eurozone nations begin meeting in Brussels today, amid signs of political discord over whether or not to increase the size of the EU emergency rescue fund."

Oldworrier thinks: "If the Euro goes completely pear shaped will my money in a French bank simply revert to francs at the same rate that it was when converted into Euros 10 years ago?"

Bloomberg has also got the story.

The Independent

"The British passion for plastic has cooled with credit card borrowing falling to £97bn – its lowest level since 2005 – and the number of cards falling by 1.5million to a seven-year low of 60 million."

Mabuz Luciferi Comments: "Credit card borrowing is in freefall since the money lenders have been restricting credit. Many people face problems of bills and are paying less on consumer goods. A consumer recession will soon hit."

BBC News

"Shares in BP have risen 2% after the oil giant announced a joint venture with Russian energy firm Rosneft late on Friday."

The Telegraph is reporting this as well.

The Wall Street Journal

"BP PLC has hailed its $16 billion share swap with state-owned Russian oil giant OAO Rosneft as a ground-breaking maneuver in the oil industry, but the deal already has drawn criticism in Washington over its potential implications for U.S. national security."

This is creating mixed views within the community:

Go Og writes: "Actually a brilliant move by BP. After the ridiculous attitude by our government towards BP during the Gulf Oil Spill it makes sense."

While DANIEL O'DONNELL comments: " Why is this surprising? National security and saving lives clearly comes second (or further down the list) to BP. These are the same people responsible for the libyan mass murderer getting released to a hero's welcome and — while he was assured to be dead within six months–he is still living his life as a hero to the jihad nearly two years later. Clearly BP is a loose cannon with lots of money to spend and plenty of states that are unfriendly to the US in which to spend it. They will likely be going to iran next, because while they have atomic power, they can't seem to get their oil out. BP will certainly find a way around that small hurdle. BP is not just distasteful in their actions, they are seemingly doing all they can to usurp the western way of life."

Citywire

"Goldman Sachs Asset Management chairman Jim O'Neill will be speaking to his clients this month to formally acknowledge that he no longer believes the Bric economies are emerging markets."

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