Salient to Investors:

Goldman Sachs’ Jim O’Neill says a feeling of hopelessness abounds but history shows we will get out of it – there is always another future crisis we can look forward to. There is nothing like a crisis to force change.

There are similarities with the Asian crisis but there are some complexities which are very different from other crises. Germany has enjoyed helping create aspects in order to install their european vision different from the last 11 years, but conflicts with polls showing only 49% of German want to help other countries with aid – Merkel needs higher than 50 percent.

Expects the euro to be broadly the same 12 months from now, and not convinced anyone will have left – expects more countries will join the EU with the next 5 years. Poland is the one big European country that has not had a recession since 2008 but expects to join the EU within 5 years.

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