On this morning's Today Programme on BBC Radio 4 I was asked about the Eurozone crisis and whether the deal struck last week will work. Clearly it won't, as the reaction of financial markets has shown. As I wrote yesterday and commented today, the Eurozone crisis reminds me of an episode from the 1970s series The New Avengers. It is as though the bullet which will kill economic growth was fired in 2007 when the credit bubble burst. Only now are some people beginning to realise how close that bullet lodged to our economic heart.
Europe's politicians have bought some time, but the Eurozone crisis will return, only it will be worse.
You can listen to the interview on BBC iPlayer at the following link.