I am sure that Fudge has to be the EU’s favourite sweet, they have been fudging ever since the first financial alarms sounded concerning Greece. Up to last Thursday, it was simply too little too late.And even after Thursday announcements, I think they are simply postponing the inevitable.
On top of the Fudge, we have the US taking brinkmanship to a new level. Now on the face of this, you might wonder, will this effect us in any way? If we take the US problem first, most banks use US bonds as gold plated collateral security in the interbank lending. If the US loses its AAA rating, so do the US bonds. This in turn will make banks very reluctant to lend to each other, and this puts the brake on any bank lending to SME’s et al.
In the EU, it is purely a only matter of time before Greece finally cries enough is enough and disengages from the Euro. I do not think that any amount of patching up can sort out their deficit The effect on this to the Euro is unknown, but I would suggest that it will weaken.
However, there is an upside. Although the UK is not flying by any means, we are stable and growing, I know by only 0.2%, but in the teeth of the recent cuts, this cannot be sniffed at all. They always say that the best time to invest is when you are coming out of a recession.
May I simply say that we have the money to help whatever business you have to invest in the equipment that you need, and that you will know that once a lease is signed, it cannot be recinded during the period of the lease, whilst an overdraft can be withdrawn in just a few weeks leaving you high and dry.If you need a new credit line, just give us a call. here.
Compared to fudge, this is glacier mint. Now where did I put the sweet tin !