Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
All the more so because the lack of confidence in future economic growth which has driven markets over the last few years is not only entirely justified, but well overdue, from a business-as-usual point of view.

High energy costs, and high uncertainty on future energy costs, are a brake on productive investment - this is quite rational, and took a few years to percolate through into market perceptions. If, on the other hand, market sentiment perceives plausible prospects for a trajectory towards sustainable energy at predictable prices, then that ought to restore confidence.

Of course, if we need one of those bipolar mood swings for capitalism to pull itself up by its bootstraps, this illustrates the extent to which our governments have disempowered themselves.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Mon Jan 30th, 2012 at 09:38:05 AM EST
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