The Temperature Rises ... in the Eurozone

The euro crisis is heating up nicely with Mrs Merkel telling France a few home truths. The Germans are fearful that the policies being pursued by Hollande will lead to France losing its AAA rating and being unable to bear the inevitable increased cost of borrowing. Mrs Merkel has also warned that the Greek bail out terms are not negotiable. Turmoil continues elsewhere in the eurozone where a bail out for Cyprus and a further Irish bail out are being talked about. To adapt Wilde's Lady Bracknell 'to have one bail out may be regarded as a misfortune but to have two looks like carelessness'. Spain seems to be supportive of Mrs Merkel whereas Italy seems to siding with France. Oh to be a fly on the wall of the G20 meeting which may need set aside time for a meeting of the G7 if the Greek election results in a Syriza win. Over in Egypt another election is proceeding being the run off today between the two men who received the most votes in the first round. Will a Mubarak ex-Prime Minister win or will it be the Muslim Brotherhood candidate and how will the  court decision that the parliamentary elections were unconstitutional affect the result? We'll never know the answer to the latter question but we will find out soon enough whether or not the military are going to quit the political field. The betting is that they will not do so. Meanwhile in Britain the wind continues to blow and the temperature remains lower than one would expect in June. You might say that it is the coolest global warming on record unless of course you are that former Government Chief Scientific Adviser Sir David King who continues even now misleading the public. His latest utterance is to the effect that the scientific community keeping beavering away showing the predictions for the next 20 years are even worse than predicted. No room for doubt there then. How do Governments pick such advisers?