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All of which leads me to suspect Merkel & Co. are playing some kind of Game.

You may be giving them too much credit. Maybe they don't understand what they're doing, and their macroeconomic policy is based on a number of nice-sounding but incompatible soundbites they picked up somewhere.

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Thu Mar 18th, 2010 at 11:31:07 AM EST
[ Parent ]
I think this is a key point... in particular there's no recognition of the seriousness of the global recession... German leaders are talking as though all the economic trauma is over already... as though interest rates are not near the zero-bound across the world.
by Metatone (metatone [a|t] gmail (dot) com) on Thu Mar 18th, 2010 at 12:37:56 PM EST
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