Instead of “Occupy Wall Street,” the theme of the day seems to be “Rescue Europe.” The two strongest European leaders – Merkel in Germany and Sarkozy in France – will present a plan today to try to keep the European Union together. 17 countries use the Euro as their currency and each with distinct cultures and work ethics. Some do not seem to have a sense of how to govern and of course Greece and Italy have dumped their leaders for new prime ministers. Perhaps we will see some light at the end of the tunnel this week, if an agreement on the Euro is forthcoming. This affects our ability to export goods as unstable currencies do not promote confidence in the business community.
Last week on the domestic scene we saw a bit of hope in the unemployment numbers reported on Friday, but let’s not be fooled by seasonal hiring and holiday euphoria. We need an economy here that is creating jobs and a business community willing to lend responsibly and not just focus on how big the executive bonus checks will be in any given quarter, said AJ Discala, CEO of OmniView Capital Advisors.
