The outlook for 2011 is still mixed. Nevertheless we wish all a happy, prosperous and better Year.

We have been discussing the economic crisis for some time now and our outlook has been rather muted all along.

There will be no quick return to the time pre-2008. The coming year 2011 will be tough with the necessary cuts by governments biting. Of course, on the other side are countries and companies sitting on a lot of cash. But where should they invest if the outlook is rather dim and uncertain in the old consumer driven economies.