What Is Needed To Make Sure That You Are Able To Financially Manage
We announced a share placing last week and I'd like to thank the institutions who came in
. It is good to have Herald Investment Trust as one of our shareholders alongside Legal & General Investment Management who increased their shareholding. We gained some other excellent names as our shareholders, but it's not appropriate for me to name them as they are below the 3% level.
The events in Spain this week-end show that the Eurozone crisis is still very far from over. I thank my lucky stars for the UK and for the rest of the EU that Tony Blair was stopped from taking Britain into the Euro. If Spain and Greece are so serious for the Euro, the UK in the Euro would have been a complete catastrophe even Germany could never have written big enough cheques. As it is the UK can continue to borrow mainly in its own currency, and enjoy a high credit rating.
I must say the world economic background does not look great. Owing to overspending in some cases or rescuing banks in others, Western Governments are running up increasingly large debts which will become unsustainable if growth rates continue to be low. It looks to me more and more as if the only way to get out of this mess will be to devalue the huge government debts run up in Europe and America. This can be achieved by Sovereign Default or, much more likely, by printing even more money and letting inflation return allowing wealth to be transferred from creditors to debtors. It is in any case particularly vital for Europe that there is more inflation in Northern European Eurozone countries than in Southern Europe otherwise the economic imbalances causing the current mess will not correct themselves for a generation. Meanwhile policymakers are stuck between the completely contradictory goals of wanting banks to lend more to encourage more economic growth and tax revenues and on the other hand wanting them to be safer, i.e. lend less.
We as a company have never been busier. What I see when I get to my desk in the morning is, yet again, so completely at variance with what I read in the newspapers. We are very busy with the European Banking Authority's COREP and other regulatory change such as EMIR and Dodd-Frank. Banks are spending money on regulation and on controlling risk, and much of that regulatory spend is mandatory. In an uncertain world, we have a real opportunity to break through, and owing to the dynamics of our business a good part of revenue growth goes to the bottom line.
I must say the world economic background does not look great. Owing to overspending in some cases or rescuing banks in others, Western Governments are running up increasingly large debts which will become unsustainable if growth rates continue to be low. It looks to me more and more as if the only way to get out of this mess will be to devalue the huge government debts run up in Europe and America. This can be achieved by Sovereign Default or, much more likely, by printing even more money and letting inflation return allowing wealth to be transferred from creditors to debtors. It is in any case particularly vital for Europe that there is more inflation in Northern European Eurozone countries than in Southern Europe otherwise the economic imbalances causing the current mess will not correct themselves for a generation. Meanwhile policymakers are stuck between the completely contradictory goals of wanting banks to lend more to encourage more economic growth and tax revenues and on the other hand wanting them to be safer, i.e. lend less.
We as a company have never been busier. What I see when I get to my desk in the morning is, yet again, so completely at variance with what I read in the newspapers. We are very busy with the European Banking Authority's COREP and other regulatory change such as EMIR and Dodd-Frank. Banks are spending money on regulation and on controlling risk, and much of that regulatory spend is mandatory. In an uncertain world, we have a real opportunity to break through, and owing to the dynamics of our business a good part of revenue growth goes to the bottom line.
by: seoboy
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