Yesterday is not a day that Gordon Brown will want to relive. He misheard a Labour supporting widow talking about immigrants: she said "flocking", not the well-known expletive. He ranted a little about it in his limousine, and sine his microphone was still live, it was picked up. He then went to make a probably rather insincere apology- which since Mrs Duffy will not now vote Labour was clearly not really accepted. This frankly trivial incident has nevertheless led to the biggest media furore of the entire election campaign, and people are talking now about a Labour meltdown. Meanwhile, something far more serious has been relatively unreported. Yesterday the European sovereign debt crisis took a drastic turn for the worse. The Greek government can not stabilise their finances without growth, but the collapse of global trade has destroyed their shipping sector, and their failure to tackle their competitiveness problems now makes Greek unit labour costs more than twice that of
Musings on World events from the perspective of a Social and an Economic Liberal.