IMF and Romania tackle flat tax failure

It's not all election news this morning.

If markets are jittery (and they are) there are more reasons than a UK election.

Contagion is heading East and it is clear their flat tax regimes aren;t helping - and are probably doomed. That's the good news.

The confused trading in the US did not help.

The refusal of the ECB to take action was worse still, acting like economic Neanderthals in the process.

So there are many reasons for jittery markets this morning.

But in it all let's not ignore good news when it happens.

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