THE WEAKNESS OF WESTERN CURRENCIES

The "blame game" around the unfolding tale of corruption and malpractice at UK News International - just remember that the rot set in under New Labour and Ken Livingstone's mayoral responsibilities for the Metropolitan Police - provides an analogous side-show to the bigger, and largely untold, story concerning the current weakness of western currencies.

It is as if the so-called "Decline of the West" has now been consciously accepted and the only way is down, or downunder, East or Essex.

So politicians in the United States, along with those in the UK, look forward to a weakening of the Euro, because this improves the prospects of their own weak currencies. Indeed, much of the anti-Euro sentiment in the North American and British media derives from this express wish.

Meanwhile, supporters of the Euro within and outside the Eurozone have worked together to maintain the value of the currency, notwithstanding the media assault.

Perhaps we just need a "New Media"in the West. I certainly wouldn't give a "ForEx" for much of the present one, even the apparently respectable institutions behave little better than the rent boys and girls of political and corporate sentiment alot of the time.