Europe's leaders more worried about squaring off ahead of their holidays than dealing with Russia via ForexLive

Nearly 6 hours they sat in a meeting today to talk about sanctions yet the spineless basket weavers running Europe have one eye on the speedos and suncream after failing miserably to hand out even the mildest of new sanctions.

As Adam says, it's to be expected really. After this week they'll all be packing their bags and heading off to campsites and beaches across the continent.

Gone fishing, back in two months

At least us Brits will continue to press for a stronger hand on Russia as foreign secretary Philip Hammond says that EU ministers agreed to look at an embargo on new arms sales to Russia  and restrictions on access to capital markets, financial services and high technology goods for use in energy sector. He says Britain wants cronies around president Putin to bear the pressure of sanctions.

It's still all going to wait until they've had their jollies though.

Summer in Europe. It's not best on the eyes.

Coming soon to a European beach near you

posted via ForexLive