Banking and Football

If at the beginning of the Euro 2012 competition, if you were told that the two main winners were Spain and Italy, you would have Spain, yes Italy, no chance. Yet this evening they will go head to head in the Euro final.  The real match was on Thursday of course, when Spain and Italy, (with  French help) ambushed the Germans, and as we now know, Merkel blinked first.

At first sight, Germany lost, but did they really? In the longer term, with the  more governance of central banks by the EU,they, Spain and Italy, will have to adhere to more control over their budgets! Just what Germany was after in the long run

This move appears to have satisfied the markets,( perhaps only a breathing space) and with a push for growth,  perhaps the sun will come out! The key to growth is confidence, and if European equipment leasing is an indicator, confidence is rising.

This week alone, Oak has received european leasing enquiries totalling over 9 million euro’s. This shows that confidence appears to be back with a bang. So the upshot is, football is very good for the European economy. Now, when is the next tournament, hope is it next month?

Remember, Germany will always be the ultimate winner!


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