Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Germany will change course only to preserve the Franco-German axis and it may be too late then.

My concern throughout has not been that some workable policy mix won't be find after all the wrong ones have been tried first, but the collateral damage inflicted before getting there.

The destruction of Greece is too much collateral damage for me, but of course one could argue that it's about 1% of the EU so it's not a serious loss if it stops at that. What I can't fathom is the callousness required for the Troika to formulate and execute the policy. You don't drive "one of us" to IMF riots, which indicates that Greece is not perceived as one of us in Brussels and Frankfurt and that is the real problem.

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman

by Migeru (migeru at eurotrib dot com) on Mon Mar 19th, 2012 at 05:13:10 AM EST
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