Display:
the things actually said by the quoted officials (that worries about Greece or Portugal could also impact Sweden or the UK, so they wanted their own worries to be taken into account) were not unreasonable per se. What was inappropriate was to turn these remarks by officials into official national policies and then one step further into "EU division"

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Wed Feb 10th, 2010 at 05:03:25 AM EST
[ Parent ]
Narrative building 101.

And, as Quatremer says, the FT is the only paper read by market operators. So they set the conventional wisdom. And conventional wisdom is what markets reflect.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Wed Feb 10th, 2010 at 05:08:04 AM EST
[ Parent ]

Display:
Login
. Make a new account
. Reset password
Occasional Series