Who of note is brave enough to land that first punch? No disrespect to the Aussies. It seems that global policymakers are about to be engulfed by world events again. Will they be sinful of taking a reactive rather than a proactive stance when its time for ‘their’ solution? The G7 emergency call this week recognized the increased risks of a Spanish bailout. However, that appears to be as far as it went. The group agreed to monitor developments closely, but did not announce any coordinated action to stop the rot. There is certainly pressure on the ECB to ease policy some more, especially if it is to prevent the ... (full story)