Rush on the Central Bank

The Times reports that there is nothing to worry about the queues forming outside the Central Bank. The picture taken by the Times shows a snaking queue outside the Valletta office of the Central Bank. Obviously the Times’ calming headline must be read in the context of the current economic scenario. Belgium for example is on tenterhooks as the Flemish and Walloon factions iron out their 2012 budgets with clear warnings that there will be spending cuts (as if the obligation of balancing a cabinet with 7 + 7 ministers sought from the linguistic divide was not enough). Standard & Poors has already delivered a sucker punch to the little Kingdom as the King tries to piece his Humpty Dumpty government together. Belgian radio news reported that there was still enough public confidence in government bonds but even this will not remain a given. Niall Ferguson penned an interesting futuristic article in the Times (UK) news review this Sunday speculating on the political break up of the EU and the formation of a United States of Europe (with a nod or two to the Hapsburgian influence on the process). The international specialist press is focusing on one thing and one thing only… will the euro survive and if not how long till armageddon.

Meanwhile in Malta there is a rush on the central bank.

To buy commemorative coins.