Opinion – George Osborne tells Europeans to pull their socks up if they want to keep Britain – Ambrose Evans-Pritchard – Telegraph – John Gelmini

Dr Alf is right, although it pains me to say that I also agree with George Soros who predicts greater inequality and that the biggest gainers will be major financial institutions at the expense of the people who most need help who sit at the bottom of the pile.

Which countries will benefit is going to depend on what they do to reform and transform themselves between now and the tidal wave of money that will be unleashed.

History and recent events tell us that very little will be done making predictions about winners and losers problematic in the extreme.

John Gelmini

Opinion – BBC – Podcasts and Downloads – BBC Business Daily – John Gelmini

I tend to agree with Dr Alf, France and the PIIG countries require structural reform and radical transformation of their labour markets, productivity per worker and their unfunded pension systems.  Also they need to start making, selling and exporting things that people want.

QE, the belated Big Bazooka is required, but these other measures need to accompany the wholesale printing of money that Mario Draghi is about to engage in.

John Gelmini