Something ugly in the woodshed

 These are eerie days. I am no economist, no banking expert, but the stirrings of insecurity seem to be with us again.

Spain is in the frame again…stress testing her banks seems not to have been a particularly reassuring experience.

France has added a couple of years to her retirement age to cope with her own burgeoning economic difficulties.

I am meeting too many people who seem to understand these things and who think we are headed for another catastrophe.

They talk of Spain requiring a bail out. They talk of Greece headed for eventual total collapse and exit from the Euro – irrespective of their remedial actions.

Above all, I am hearing the phrase ‘the Banks are back to their old ways – nothing has changed.’ I am beginning to fear they are right.

Is this a ‘double dip’ I see before me? Emergency Budget Day – next Tuesday here in the UK assumes an ever larger and more draconian form.

Has global finance run out beyond the control of any national or global system of control?

Again?