In recent weeks, it has seemed to me that an illusionary trick has been taking place. Whilst everyone was concentrating on events in Athens and Frankfurt, the Chinese stock market was crashing before our eyes.
Just as we were heading towards the best solution for both Greece and Europe as a whole, the politicians once again stepped in to mess it all up.
The UK tax authorities’ new list of recognised overseas pension schemes (ROPS) has been published and there are several schemes which no longer appear.
After five years of negotiation, Greece has defaulted on its payment to the IMF. Funding from the international lenders has now ceased, as well as financial assistance from the European Central Bank. This may be a turn for the better.