Davos, all is well?

Davos and the Klondike theory

Davos 2011Davos 2011
Let's put on a brave face. This seems to be the mood of the moment and we have been here before. Prior to the financial collapse of Greece there was only a little local difficulty to deal with; and then there was Ireland. Our Lords and Masters, fresh from their exertions in Davos, tell us all is well. On behalf of France, Finance Minister Christine Lagarde said -

Let's not short Europe and let's not short the eurozone, - she said to applause from the business and political leaders attending the annual meeting of the World Economic Forum in this Swiss ski resort.

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