Bond Outlook [by bridport & cie, September 28th 2005]
The time has come to be more optimistic about Europe, if only on the grounds that the blackest darkness is just before dawn. The political stalemate in Germany and indecision in Italy (epitomised by the Fazio farce) do indeed look like darkest night. However, there are encouraging signs that dawn is coming. One we mentioned a fortnight ago: Barroso’s moves to reduce the weight and intrusiveness of the Brussels bureaucracy. |
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