Monday, February 27, 2012

No surprise then

The Bundestag has overwhelmingly endorsed the second Greek bailout, 496 to 90, despite growing pressure from voters and the media, while Merkel admits there is no guarantee that it will work. "Europe will fail if the euro fails. Europe wins if it wins the euro", she warns.

This comes as absolutely no surprise. Despite some predictions to the contrary, it is too early yet to cut Greece adrift. Wait for the fall.