Monday 8 August 2011

Communicator of the Week

Financial markets are often the best gauge of success and failures of policy makers. Markets like certainty and firm direction from political leaders as well as being able to demonstrate a long-term, sustainable plan for growth and general prosperity.

The measures taken earlier in the week on Capitol Hill and the reinforced bail-out facility in the eurozone have not reassured markets of a genuinely sustainable way out of the debt crisis.

Political leaders in the eurozone and in the US must acknowledge the terrible mess they are in - subsequently we are all in - and take real and lasting steps to deliver solutions.

Financial markets have acknowledged not enough is being done to deliver economic stability, pay off the huge debts or demonstrate political leadership of the kind necessary. They have reacted in a way that signals comprehensively it is time politicians in Washington and Brussels grip the problem.

With news of a forthcoming emergency summit of the G7, coupled with action from the European Commission to deliver an enhanced bail-out facility, it appears that the politicians are finally ready to get serious having been stung into action. That is why I make the financial markets my communicator of the week.

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