A lot of traders worried about being caught with their trousers...

A lot of traders worried about being caught with their trousers down, again. The German and French bailout should help to calm the markets. They are bearing the cost of monetary union. The UK has had monetary union for 300 years and we know the inevitable consequence - significant wealth flows from England to Scotland, Wales and Ireland. Well, now the French and Germans (and Italians) have had a wake-up call.

The markets are now trying to worry about the UK as well but there's no current threat to our AAA rating. Things are going to get tough but at least the spendthrift is about to be binned.

Hopefully the markets will stabilise within a week or so and then we can get on with watching the value pile on. The collapsing GBP has made me quite a bit on ADI & AUT - I invested at an average of about 1.89 (currently about 1.65). That kind of makes up for the dilution :-)