I am sitting here in London and thinking: where is all the talk about a European financial recovery when Angela Merkel spoke just hours ago about emergency measures to avoid a catastrophic crash of the German economy? Yes, Chancellor Merkel is meeting government officials and heads of business to talk about a last minute attempt to avoid a freeze of the German economic engine.
We know what she is talking about. If the German economy collapses, there is little hope for the rest of the European Union – we included and we might go down in something that is now called the Dubai Effect.
And the Germans were supposed to have a really good economy!