Wednesday, May 30, 2012

Doomsday chorus!

The doomsday chorus is getting louder. Read Martin Wolf and Joschka Fischer (h/t Bernard). Both blame Germany. The diversity of German views is actually wider than one might think, but expression of them is blocked by the apparent consensus within the current government and with the Bundesbank and ECB. Will this consensus crack if Spanish banks fail? Perhaps, but it may be too late to do anything useful in response.

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