More on dwnews full interview tonight at As the Italian crisis continues, billionaire financier George Soros is in a negative mood about the EU in a speech today:. Another "major" financial crisis may be looming and the EU faces an imminent existential threat, George Soros says https: In echoes of the euro crisis earlier this decade, these events could ultimately threaten the future of the EU, or at the very least, question it in its current form. Whilst it is no surprise that Italian yields have soared and equities plunged as investors reprice the actual risk of holding Italian assets, this crisis has been on the cards for some time and shows how complacent financial markets have become in the era of quantitative easing.
At the same time there has been a noticeable slowdown in growth across the EU this year which will also continue to weigh on sentiment towards both Italian and EU wide assets. Throw in heightened geopolitical risks in other parts of the world such as the US and Asia, rising interest rates and the reduction in central bank support through quantitative easing, then the outlook for financial markets is far less certain than over the past few years. Short-term Italian bond yields, which move inversely to price, were set for their biggest one-day jump since , while Italian and wider euro zone banking stocks were set to suffer their worst day since August At the previous auction for this maturity the yield was negative at US markets are expected to open lower in the wake of the European declines, with the Dow Jones Industrial Average forecast to lose around points at the start of trading.
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When asked about any ECB help for Italy he is quoted as saying: They might want to read them again. With markets transfixed on affairs in Italy and Spain amid a vote of no confidence for Rajoy , we are seeing a sharp shift into safe haven assets, driving the Japanese yen and gold prices higher in recent days.
FTSE listed gold producers Fresnillo and Randgold are the best performers in the bluechip index in early trade amid a shift into gold. We often see stocks benefit when currencies come under pressure, but the flight to safety this morning means the euro and the pound are also getting another pounding alongside the stock market declines. Today is a big day for Pret.
It said Italy was likely to be downgraded if the next government pursued fiscal policies which were not sufficient to place the public debt ratio on a sustainable downward trajectory in the coming years. Its rating could be confirmed if there was an ambitious programme of structural reform by the next government. We will conclude the review when we will have better visibility on the policy direction of the country, which means that the time frame for the review may exceed the typical period of up to three months.
Not even during the Eurozone crisis did Italian yields rise so rapidly in just a few hours of trading.
Whilst a lot has already been written on the topic, the moves this morning warrant attention as we are seeing some incredible price action in Italian bonds with the market moving at speeds not seen since the worst of the Eurozone debt crisis. The big question is whether this is just an Italian problem or one that risks significant spill-over into the rest of Europe.
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For now this looks contained largely to Italy , but the contagion risks mount. Italian bond moves are isolated and whilst the euro has given some ground again it is mounting a firm defence above 1. Italian bond yields have risen sharply and spreads are widening with Bunds.
Spreads with year Bunds are now at the widest since and the market is moving before our eyes. Eurozone breakup risks are higher, although they remain small overall unless you take the long term view that every empire falls at some point and the EU is no different. If snap elections produce a clearer mandate for the populists and they succeed again in forming a government, Italy heads for a collision for the EU shortly after.
EU and Eurozone rules are far too inflexible to handle radical domestic policy shifts of this kind and based on experience of Brexit negotiations, Italy could not hope for the EU rule makers to back down. A disorderly Italexit would be nasty enough but as a founding member of the club it would be a moment that the bloc would not recover from.
The chief risk is that the developments over the last week lead to a snap election that becomes in effect a referendum on membership of the euro. The two main populist parties may well step up their anti-euro, and anti-EU positions. Visco added that moderate growth and gradually rising inflation were the most likely path for Italy. He said Italy must press on with reforms, and there were no short cuts for cutting debt. The FTSE is now down nearly points or 1. I am in Australia at the moment and took this opportunity to let my hair go grey as I was feeling more and more allergic to dyes.
Not sure I would have done it, had I been in the UK. Anyway, I am going back to London and will stay grey! Encouraged by women like you and others, even in Australia.
I have met a great Melbourne-based influencer who is over 50 and ageing very stylishly and she is not alone. Thank you for being willing to put yourself out there for those of us who struggle so! Those of you who are still slim, you can wear a wider choice of clothes — I know, that was me till I hit It can be hard and expensive. Keep up the good work! Allyson I agree with everyone else- more over 50 people with style is always inspirational. I would like to see more real representation of true body shapes and more real un-airbrushed faces in magazines and advertising and all around.
Keep up the terrific posts. I also wrote on my blog today about getting in a rut and especially as we get older we feel we have to dress a certain way. Find the joy in life and dress and way you want, age be damned! I second all the comments above, particularly about teenagers modeling designer clothes, this has totally put me off buying magazines these days.
Also, to be able to find clothes that flatter my body, I am still slim weigh the same as I did in my thirties but am rather dismayed at how the body changes after Thickening waist, saggy crepey arms, and back fat!! I am , however, grateful to be fit and healthy with plenty of energy. Like you, Jackie Callan, I have long hair and love it, but I do get comments. Just to add, re: When I get comments questioning mine, they are usually from women around my age with badly dyed, unflattering short haircuts. My husband said the other day that I look better than I ever have..
Suggestions for what we want to see more of? Well I really enjoy your interview with interesting mature women about how they are living and dressing. It would be good to hear about more women from outside London.
- Markets rattled by Italian and Spanish political turmoil - as it happened!
- John Ronan (poet).
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- Iran and Christianity: Historical Identity and Present Relevance (Continuum Religious Studies)?
I would to include more women from outside London, Maureen. But the logistics and the financial side of things — basically time and money for travel, a photographer, possible overnight stays are currently holding me back. This is something I really want to look into this year. Maybe you can be my first volunteer?!
Drop me an email and we can discuss. I am so tired of seeing children wearing clothes aimed at the 50 plus market. It makes me angry that brands and stores persist in excluding the largest population ever in Australia of women over I get invited each year to a fashion show as a VIP customer of a particular large store here in Australia. The audience at the last show I attended was made up of women over 50 and 60 and the clothes, fashion and beauty advice were all aimed at a far younger audience.
Not relevant at all. Your blog is terrific Alyson. If I could get my hair still an unnatural colour! Would you be able to give us some simple tips on how to transition from dyed to undyed without giving up halfway through the process? Thanks very much, your do a brilliant job. While simultaneously the fashion industry fails to offer us women of style in their 50s and 60s. Unless we go over a certain age and visually fit a certain in-your-face, bolshy refusal to go quietly, then we are invisible.
In the 21st century. I have spending power. I am 75 but often confused for 50ish. Clothes in stores in SoCal are awful unless one buys designer items; awful means cheap, shoddy tailoring, dull colors, and poor designs. Many manufacturers of lines that were good quality a few years ago are now opting for the same price tag or higher for inferior goods.
It is quite challenging in my opinion. Buying a good coat took 2 years to find. Even then this required tailoring expenses which I must take on as a given due to being petite. Looking at the seams, buttonholes and shoulder construction in many items is disheartening. I was on a travel bus about 4 years ago; many of the older ladies looked like they had just rolled out of bed and threw on what was on the floor. To Maisie and anyone else thinking about swimwear and being unclothed.
This is great exercise and one is immersed up to the shoulders. No one is looking at anyone else. For swimwear I only wear Speedo or a French equivalent Arena now. There is a line called Sculpture with good bust support as well as some Lycra to hold everything in place. These functional suits are the least expensive around and the most chlorine resistant too so they last well if rinced straight away in cold water.
In addition to swimming crawl on my back and exercises in water I recommend press ups and using one kilo hand weights to tone arms. I got on to this when there was endless coverage of Michelle Obama and her toned arms. I love your blog and particularly love the posts which produce so many comments to read. I gave up buying magazines long ago when I realised that they were cover to cover advertisements and not relevant to me in any way so your blog has become my window to a style world filled with real people wearing real clothes doing interesting stuff.
You have helped me develop my look after retiring from the corporate world with a wardrobe full of things I was never going to wear again. Just today I saw a photo of Cindy Crawfords teen daughter modeling Chanel. The major fashion industry houses really seems to be in their own bubble.
I would adore more interviews and examples of how to dress like in your books — articles with photos of actual garment examples and different styles shown on different women. Makeovers are cheesy but I would love to see stories of how to not become the mops on the tour bus that another reader told of!
How to be comfy but not be in Spandex or Athleisure wear day in day out. Also more articles on dealing with body morphing haha as well as stories of inspiration of women with children now grown — how they live out Act II. Makeup and hair stories are always appreciated too.
I love your work Allyson! Waiting for Book 3! Not everyone agrees and some feel free to tell me! We are, as you say, elastic. We are what I like to call Generation Work It. I think even the fact that this is a subject is ageist. I am 60 and I love this blog, but I also adore the magazines and fashion brands aimed at the young. It would be like going into Marks and Spencer and only being allowed to look at the classic collection!!! I would also like to reply to Michelle that some young women do wear Chanel.
I bought my first Chanel suit aged 25 having saved up for years. It is not something I would wear now…. Personally, this is the best time of my life. Good fashion is ageless. What I can never understand is why all pretty summer dresses seem to be sleeveless. Women our age hate the tops of their arms. I do wish manufacturers would realise this.