Europe Markets Eurocentric: Silvia Wadhwa

Can you believe it? It's already been ten years since the single currency was launched into anxious financial markets amid fears of failure and forex massacre (notes and coins were only introduced two years later to replace respective national currencies). So, what's the verdict after the first decade?

It's that time of the year, when children -- those who still believe in him! -- tend to send off letters to the North Pole, to a certain Mr. Claus to inform him about their wishes for Christmas in the (often) vain hope that they might be fulfilled and that, come Christmas night, this "special something" arrives down the chimney.

Trichet should be fired. Bernanke should be fired. Lethargic politicians should be fired.

Don't you get the feeling that for the past year or so political leaders and leading bankers have been rearranging those deckchairs on this our global financial market Titanic, while the hull of the big ship is balefully scraping along that big, fat, menacing iceberg?

Want to start an altercation at Oktoberfest? Inform the people in your tent that Germany does not lead the world in beer consumption.

Talking to the beer producer at Oktoberfest there is definitely angst, as they say in Germany.

There are two types of seating at the Oktoberfest tents: reserved and unreserved. My attempt at entering the reserved seating was blocked by security, press pass notwithstanding.

Oktoberfest is in full swing in Munich Monday and there are few signs that the credit crunch and Germany's economic slowdown is impeding the celebrations. But traveling tells a different story.

If the market knows best, why are all those oh-so-convinced capitalists running to the government, clamoring for hard-earned taxpayers' money to save their trembling bankers' butts?

A year after the credit crunch started what, if anything has changed, and more importantly what have banks learned? (Hint, not a lot.)

There is an adamant little Frenchman, Jean-Claude Trichet, and his merry band of monetary lawmakers drawing the line on inflation ... how'd THEY become the bad guys? Hmmm...

Not an ENTIRELY serious blog about the ECB, monetary policy and Eurozone rate prospects. Correction: an entirely UNserious blog in vague connection with the ECB and no connection with monetary policy at all. Although... you never know. (And, sorry: no juicy tales about Playgirl of the Month being introduced to spice up ECB monthly reports, either.)

Would you believe it? It's already 10 years, since Riverdance power-danced the new bank for Europe through its inauguration at Frankfurt's venerated old opera, with great fanfare, festive speeches and "Ode to Joy", Europe's national anthem.

- Notes from an ECB groupie's travelog -