Monday, February 20, 2012

A confused columnist

The Great Sage Wolfgang Münchau, doyen of European columnists and Custodian of All Knowledge, finally comes to the conclusion in the Financial Times that we reached over a week ago.

The German strategy, he writes, "seems to be to make life so unbearable that the Greeks themselves will want to leave the eurozone". He then adds: "Ms Merkel certainly does not want to be caught with a smoking gun in her hand".

But, in an article headed, "Greece must default if it wants democracy", he condemns the German strategy as one "of assisted suicide, and one that is extremely dangerous and irresponsible".

If Münchau is really serious about Greece having to default in order to restore democracy, what is the problem? After all, if Germany is trying to force a Greek default, does this not suggest that he and Germany are arguing for the same outcome?

So why is the strategy "extremely dangerous and irresponsible"?