European Night’s Dream

Let me start this post with two quotes from Shakespeare’s Midsummer Night’s Dream:

Swift as a shadow, short as any dream (Act I, Scene I)

When they next wake, all this derision
Shall seem a dream and fruitless vision
(Act III, Scene II)

Shakespeare’s comedy came to my mind when I heard, at the end of the day, on the radio that «Wall Street closed down today amidst worries over European debt» (ok, it’s not a real quote, but it’s pretty closed of what was said)

Hearing this, I came to one precise question : was it a dream ?

But it is true : the euro is back as low as last Friday; the Dow Jones lost nearly 40 points, …

All this magical jump in stocks after an enormous rescue plan negotiated until late in the night… Gone… after just one day.

Are the market so prompt to enthusiasm, or got such a short memory ?
Does Europe need to put 1 trillion euros on the table everyday to keep the markets at rest ?


3 Comments on “European Night’s Dream”

  1. […] calme et l’euro faisait une remontée vertigineuse. Cela n’aura pas duré longtemps car dès le lendemain la monnaie unique repartait à la baisse, entrainant dans son sillage les places boursières du […]

  2. […] beginning of the week, markets did calm down, and the euro made a huge jump. This did last long,  as soos as the day after the euro went back to sliding down, driving global markets down with it. The general debt of the […]

  3. […] a comment » I have been quoting some classics of literature in the past: W. Shakespeare or J. Austen – and I also got some other quote from Homer by example up my sleeves… But  […]

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