24 June, 2010

Cuts and Germany

Further to my post earlier today, a credible scenario might run like this: Germany realises that it would be politically unacceptable for it to leave the euro, so it ruthlessly follows the path of retrenchment, a game at which the others cannot match it, until the others, particularly the Olive Belt, ask it to leave. Then it says OK.

To be honest I don't think Angela Merkel is sharp and Machiavellian enough for this, but I thought I ought to mention it.

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