It is in this country’s interest for Europe to be stable, at peace and enjoying economic growth. There is little we can do, on our own, to reach such aims. Yet it always pays to back those forces and alliances between European nations which come closest to adopt them.

The manoeuvre must try to blend political with economic, social and cultural calculations. With time, it has become an increasingly complicated game.

For it has become harder to evaluate which of the factors at play are most relevant. As it happens, the other  country players have progressively fractured from the inside, not least among them the larger ones. Italy, Germany, Spain as well as France, despite all outward appearances, find themselves unable to sustain internally and externally a given political direction that is definite, strongly stated and coherent.

An old hand whom I admire for his political analyses told me: The priority for Europe is again becoming that of stability.

***                 

Banks

The EU needs to pay more attention to the situation of its banks. They are not doing as well as they should.

The point has long been made that medium to small sized banks are being badly affected by ever widening eurozone regulations drafted to ensure that the disaster of the years 2008 – 2010 does not recur. Reforms being introduced are all necessary but they have been placing onerous burdens on bank managements. These are having to reduce services and to sideline proposals that cover new borrowings and useful investments.

On top of this, regulatory burdens have increased due to the aim, which is unquestionable, to cut the incidence of bank manipulations that allow criminal funds to get laundered.

The problem though is that in Europe, banks still constitute the main channel by which investment funds are mobilised – unlike the US. In the latter, stock markets carry the bulk of transactions in investment funds.

If European banks remain pressurised as they have been up to now, the prospects for more investment projects n Europe will stay uncertain.

It’s the classic situation, so the claim goes, that – the road to hell is always paved with good intentions.

***

People one remembers

As the month of November approaches, it is difficult for someone of my age... but others too... not to remember those who have departed. Unfortunately as years go by, such friends become more numerous.

At first, I thought I should list them here. But better not. Perhaps, though they have gone, they are still with us, and we do not see.

Or perhaps, better say that we do see: For those who have departed have, in their way, remained with us. Every time we mention or remember them, or argue against what they said or stood for... we are not just remembering them... We are also giving them a new lease of life.

The process of remembrance keeps them alive. Which is what makes early November such  a fascinating time of the year.