Word from the peleton is what the IOC official said is tosh. All the team cars had correct timing at all times, it was just the braodcasting company did not put it on the screen.
So no technological failures just misdirection from the IOC chappie.
19 publicly visible posts • joined 1 Apr 2010
On a pure numbers view are right - whether Greece is in the eurozone or not is immaterial.
The problem is broadly one of confidence. The Euro works as a fungible currency on the principle of irreversiblity of the currency union. i.e. 5 euro note has equal value regardless of which central bank prints it.
Once you demonstrate that it is possible for a country to leave the eurozone you introduce a tangible possibility of another country leaving the eurozone and re-denominating its currency from euro. A prudent investor would have to take account of this risk and suddenly not all Euros are born equally. Quite how that dynamic plays through the market I don't know but I suspect it would be bad for everyone except Germany and a couple of others.
To a degree you can already see this dynamic through the balkanisation of the european banking system and the spreads differential on different government bonds. I would certainly argue that the current spreads between german and spanish government bonds represents not just a difference in credit quality but the contingent FX risk each contains in a eurozone break up scenario.
There are loads of commentards who don't like this for assorted reasons - most of them are probably better qualified than I to comment. However I love the chutzpah of the people doing this.
Between this lot and Elon Musk we might escape from the stagnation / glacial progress rate we are stuck in at the moment.
Iris was not the most user friendly of systems but what it was fantastic for was allowing you to bypass the queues of holiday makers if you travelled regularly.
I am disappointed by the lack of efforts to get e-gates up and running in the UK. I travel regular to Finland and they have a bank of e-gates for non schengen vistors which have never been less that faultless. The Finnish implementation of passport reader does seem better than the UK's though - no silly stand here signs and the photo unit was much quicker.
The thing everyone seems to be missing is although the individual machines are slower than a passport check, the ability to have lots of them and no reliance on the work ethic of UKBA means your aggreate journey time thorugh the airport is going to be much quickerwith e-gates which is a win for me.
A couple of mis-conceptions to clear up here.
If you sell shares and fail to deliver you cannot just back out of the trade. It is enforced both by the exchange and local law. Typically if you cannot deliver you get "bought in" and are subject to interest claims. Either way you are on the hook, the only escape is typically liquidation.
@ LPF and AC 09-17. The porsche/vw thing was not the same - what porsche did was definitely market abusive and manipulative by it worked in a completely different way. in essence it was a short squeeze.
El Reg - love your work generally but this article needs a sub editor with a good understanding of finance, really not pretty to read.
Chris Williams on stuff
Lewis Page on gun porn and atom smashing tom-foolery
The moderatrix's occasional put downs
General IT related press...
Not this kind of stuff - regardless of message I would be delighted if this is the last piece on politics for the next four weeks.