Telegraph
"IHS Global Insight's Howard Archer said: "This highlights the fact that the UK still faces a difficult battle to develop a sustainable, significant recovery." ...Mr Archer said: "Serious doubts remain about the strength of demand for manufactured goods over the medium term, particularly once stimulative measures start being withdrawn." .
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ECB begins to turn off the liquidity tap (Telegraph)
"There are particular worries about Greece and Ireland, where banks have relied massively on ECB support because they cannot raise money cheaply on the open market. The ECB has let them use a wide range of low-grade mortgage debt as collateral for loans. Private markets are unlikely to be so forgiving, raising the risk of a roll-over crisis for weak lenders."
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