Who Will Save the Euro?

It is not just the banks that are in danger of going under. It is entire economies. They are the ones in need of emergency cash to stay afloat. For some time we have been saying that Europe’s financial ‘white knight’ may end up wearing Chinese armour or even a South American uniform?

Now it looks like all that is starting to come true. It started with a big splash in the Financial Times, saying Italian officials had turned to China for help in avoiding a financial crisis.

Counting the Cost also looks at the America’s Cup, once the domain of the millionaires and billionaires. Sailing’s Formula One event hits the waters of Plymouth, England, as it tries to cut costs and appeal to a younger generation.

Over the years the Cup has suffered from a bit of an image crisis, struggling with too much money and too many legal battles which have pushed both fans and investors away from the event. Can the America’s Cup change with the times?

Also, banks are back under scrutiny. UBS, the Swiss banking giant which bailed out with $50bn from Swiss taxpayers, hit the headlines again for all the wrong reasons.

The last time it was due to those dodgy mortgages. This time it is dodgy trades, or unauthorised transactions, says the bank. Whatever it is, the fiasco points to a lack of internal controls.

Now UBS has the task of restoring investor confidence, again.

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  1. Its not capitalism why we are in this problem, its is the opposite, not socialism, but fascism, the facist countries like america where the governments are controlled by large companies are the ones being gutted.

    Real capitalism would make all those banks + gm fail, and there would be no crisis, at least as far as America goes. We had a crisis because a bunch of banks who should have been allowed to fail + car manufacturers was given trillions, we fought unnecesssary wars and paid the military industrialist trillions to kill poor people who can’t even read in afghanistan, somalia, yemen, iraq, libyah, syria. Then they turn around and want to tell regular americans we need to cut back and raise taxes, when GE and most major businesses use transfer pricing to pay below 10% tax rates because they have 1 office in switzerland like documented on 60 minutes.

    No lets end all subsidies, all tax breaks, all the money going to big business and send it to the poor and working /producer class. I’d prefer little tax, but if you are going to advocate a liberal position at least tax the rich companies and give it to the poor rather than taxing the upper middle class and giving it to the rich.

  2. fantastic discussion, thank you. i will watch the docu now. 

  3. ye  loser party

  4. Yeah NAND you are an idiot. And your comments are boring. And people actually find sarcasm irritating, not funny.

  5. You’re an idiot.

  6. The only thing more pathetic than the state of capitalism, is the Ayn Rand books clubs claiming we need to be more capitalist.