Economic woes

IT does seem quite incredible that the very future of the euro is in doubt and for once I will applaud Gordon Brown, the former British Minister, for not taking Britain into the single currency. Britain´s financial independence has allowed it to take some bold steps which the Greek, Irish and Portuguese governments can only dream of. I was talking to my bank manager this week ahead of the European crisis summit on the Greek bail-out he said that no currency was a safe bet at the moment. His advice was to invest your saving in a basketful of currencies in a damage limitation exercise. The euro continues to suffer because of the weak southern European economies, sterling remains unstable because of Britain´s economic woes and the dollar faces severe pressure because of the U.S. debt crisis. It is quite incredible. Everywhere you look there are mounting economic woes. Three years into this severe recession and there is still no light at the end of the tunnel. I suspect that things could still get more difficult.