Titan Business Insurance applauds the latest stimulus package from the Government, but, along with many others, wonders if it is too little too late.
The eurozone is beginning to crumble and we are now paying the price for apathetic European politicians who appear unable to take the big decisions needed to save the political union from meltdown says Titan Business Insurance.
At the heart of the problem, says Titan, is a seriously exposed banking network which has huge loans out to many of the countries now in trouble. Unless this, the root course of the problem is addressed, then the problems won’t go away.
The problem is not just about Greece’s future, but whether Spain, or Italy can survive without a bail out.
Chief Executive Officer of Titan Business Insurance, Basil Tsapralis, said:
“The eurozone political landscape is beginning to change and we now see the old Merkel Sarkozy alliance wearing thin. President Hollande is not Sarkozy and does not feel bound by the old understandings. And Germany is saying quite openly that the French way of solving the problems will not work.
“The Germans might have a point, but you can hardly say that what happened before was working either. German has long been seen as the one country that can put a stop to the crisis, but, understandably, they do not want to be seen as Europe’s bank.
“Chancellor Osborne’s package was good, but if it’s really there to stop the eurozone Tsunami, then it’s not going to work.”
Titan Business Insurance is one of the largest brokers in the market and has clients throughout the UK.