"The problem I have is these sort of decisions tend to be made on the run or that's the perception. Their terrific ideas and as I say no one would argue with many of them. But we need to be able to pay for them and you can't just keep spending money without getting the revenue. In the end, you end up like the countries we are seeing now in Europe that have very high levels of debt and a very few ways of getting out of it."

 

Meanwhile, unemployment in the Euro Zone has risen to a new record high. There are now more than 90 million people out of work right across the region.

 

 

But in some good news, inflation has fallen to a three-year low, fueling expectations of an interest rate cut.

To the markets.

 

 

The Dow Jones was 20.1 points higher at the close. The Nasdaq was up 22. The S&P 500was four points higher. And in London overnight, the FTSE closed 28 points weaker.

To commodity prices.

 

 

West Texas Crude is trading at 93 US dollars. Tapis Crude is at 107 US dollars and you can pick up an ounce of gold for 1476 US dollars an ounce.

 

 

The Australian dollar is buying 104US cents, 79 Euro cents and 67 pence sterling.