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Europe

  • Germany, Defence, Political risk, Politics, European Sovereign Credit, Europe, Geopolitics, Sovereign Debt, Government Policy,
    February 24, 2025

    German Elections open up a whole new can of worms…

    The German elections highlight the dangers of coalition politics – swimming in a sea of treacle to agree policy choices as the likelihood of bad compromises rises. Even as Trump and Ukraine roil and destabilises the European Union, Germany is set for the distinct possibility nothing much changes. It is not strong and stable leadership at a time when it is desperately needed.

    read more
  • Europe, EU, Trump, UK, USA, Saudi Arabia, Russia,
    February 18, 2025

    The End of The Atlantic Age – A new Mediterranean Age begins?

    Month 1 of Trump V2 has been…. “interesting”. The playbook is not to win friends, but to shock former allies into compliance with Trump’s America First agenda. The results may not be what Trump and his minions expect. There will be push back. New Alliances and Trade patterns will form - with or without America.

    read more
  • UK, EU, Politics, Brexit, Capitalism, Economy, India, Europe, China, Russia, G20,
    November 19, 2024

    The UK is Piggy-in-the-Middle in the Game of Global Trade and Geopolitics

    The UK is in danger of becoming the unloved Piggy-in-the-Middle in terms of new global trade and geopolitical alliances. While China and the US place the pieces on the board, the value of Airstrip 1 is unclear. We have chosen where we now lie. We have chosen badly.

    read more
  • Financial Crisis, Political risk, UK, Capitalism, Markets, NHS, Economy, Democracy, Europe, Government Policy, USA,
    July 19, 2024

    Outage, Populism, Revolt and Economic Consequences

    Everyone will be watching today’s unfolding internet outage – a dress rehearsal for the opening salvo of the next war? Meanwhile the West is unravelling because of populism – which is fuelled by inequality. No Sh*t Sherlock award to myself for spotting it.

    read more
  • European Sovereign Credit, Political risk, EU, Politics, Capitalism, Economy, Democracy, Europe, Geopolitics, Government,
    July 8, 2024

    De Mal En Pis in France, and not much better elsewhere…

    The shenanigans around the second round of French voting has achieved a messy but acceptable stalemate for Macron. All he has to do now is figure out how to make the essentially ungovernable economy work without breaking French bonds, the Euro and Europe while keeping out Le Pen in 2027! Simples…  

    read more
  • Trade, Political risk, UK, Capitalism, Economy, Democracy, Europe, Geopolitics, China, USA,
    May 8, 2024

    China’s Economic Offensive in Europe – Dance To China’s Tune

    Emperor Xi’s brief trip to Europe has apparently achieved little – but he’s made clear China is open to dealing with Europe – on its terms. He can wait: the global economy is increasingly transactional and the US / Yoorp relationship is under stress. If China needs to flex some muscles and break things to get the message across – they will.

    read more
  • ECB, EU, Ukraine, Politics, European Sovereign Credit, UK, Europe, Geopolitics, USA,
    March 4, 2024

    European Defence – Just how difficult can it be?

    Europe will face massive difficulties rejigging NATO for a post US era. It will be vulnerable to Russian disinformation while facing acute production, labour and cooperation instabilities. But if it could be done…..

    read more
  • Trump, Political risk, Brexit, UK, Capitalism, Economy, Europe, Democracy, USA,
    December 13, 2023

    Migration has become the big distraction that could end the West – but it’s not the problem!

    Nations succeed because they are ruthless in pursuit of their goals; good and bad. Western politicians have decided the big issue is illegal migration – making it conditional and a priority in front of the really important challenges around growth, stability, geopolitics and avoiding conflict. Its Political Failure of the Worst Kind.

    read more
  • Political risk, Financial Crisis, Banks, UK Debt, ECB, Politics, UK, corporate debt, Debt, Economy, Europe,
    November 23, 2023

    Why we won’t fix the UK by selling Natwest to irrational retail investors….

    Jeremy Hunt tried hard to be interesting, but it was all a bit forgettable. An election is coming. How bad will it be? As for selling Natwest to fund UK growth – has Hunt actually considered the outlook for banks as the risk outlook deepens?

    read more
  • EU, Brexit, UK, Economy, Democracy, Europe, Government,
    November 15, 2023

    A Tale of Two Cities: A New Hope with Europe? 

    Athens and London? The power of positive politics is very evident in Greece. Curiously, the surprise appointment of David Cameron as UK Foreign Secretary might just hint at a positive outcome for the UK if it triggers a proper discussion on Brexit failure and our relationship with Europe.

    read more
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The Morning Porridge is not investment advice. It is market commentary based on discussions and information gathered from multiple sources believed to be reliable. No guarantee is given for its accuracy or completeness. It is not an offer to buy, sell or solicit investments or securities. The author may have a position in companies or institutions discussed in this commentary.

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