I would say that the balance of probability is that we will do better, and the fact that the ECB is not meant to create housing bubble to help ruling Governments win the next election is certainly reassuring, but acute rotten policies is not an unknown disease in our lands, far from it. And it may only take one moment of folly to make it really hard to come back. Because the price is usually paid later, after the next election. And may befall on those trying to clean up the mess.

Anyway, we shall find out. There is no way the dollar can maintain such a position forever.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi