Writing Worth Reading
Writing Worth Reading
Interview with economist Paul Krugman on future of eurozone: "Greece was probably a doomed prospect from the moment that we got the truth about their budget. Spain, which is really the epicenter, is still savable"
On the rhetoric of Greek political parties, as we approach new elections: "Suicide is the negation of a certain type of politics. Even as a rhetorical device, suicide remains an act rather than a word; and democracy needs words"
"If proof were needed of the maxim that the road to hell is paved with good intentions, the economic crisis in Europe provides it." Short, sharp piece on how eurozone crisis is damaging notions of democracy and social justice
There may be no good options, but can history guide us to the least bad ones? Let's consider: German reunification, collapse of Austria-Hungary, Argentina's abandonment of dollar peg, 14th century Florence, 20th century Panama
Germany has done exceptionally well out of the euro project. And now with Greece in crisis they find themselves with much to lose. Syriza leader, Alexis Tsipras, clearly recognises this. And he's prepared to use it against them
"The financial re-engineering of Europe is a prerequisite for the euro to survive. Greece is bringing forward that moment of truth. And yet politicians, particularly in Germany, have still to accept the logic, let alone explain it"
The view from Germany: "Greece has been in intensive care for years, but the patient, instead of recovering, is just getting sicker and sicker." Elections were final straw, it's time to leave the euro. Here's how it could happen
"The euro will survive only if every country confronts the choice it shies away from. Like some dreadful joke, the euro needs French reform, German extravagance and Italian political maturity." And that's ignoring Greece
Excellent on recent destruction of Greece. Papandreou begged Merkel to soften terms of bailout. Merkel refused, said pain was necessary: "We want to make sure nobody else will want this." There's European solidarity for you
"If the next government is unable to deal with this economic and social crisis, immigrants will clearly become scapegoats. We are not living in the 1930s, but we should not forget that worrying precedent"
Hollande says path of austerity carved out by Merkel is unsustainable. He'll come under pressure from Berlin to back down. But chaos in Greece helps him. Tacit alliance with Athens could get Germany to budge
What happens after an election result like that? And in circumstances like these? When to be in power is to commit political suicide. And even the traditional parties cannot cooperate. Mason sees two possible routes out
Former adviser to Greek PM says eurozone is disintegrating, but here's how to resolve the crisis...
James Surowiecki, on the eurozone
"This is that rarest of problems—one that you really can solve just by throwing money at it"
