Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.

 "the euro is the currency of the core. That's not in doubt."


     I find that a rather amazing statement to assert under the circumstances.  It seems to suggest that there isn't and simply cannot be any conceivable higher priority than that of maintaining the Euro.  It seems that we are now very close to the stage at which desperate people resort to ritual chanting in hopes of warding off some dreaded evil.

    I wish economists were required to study history, psychology, sociology and anthropology in addition to advanced calculus and quantitative analysis.  Then they might have a prayer of recognizing something very much at the heart of our current dilemma is simply the fact that very, very, important high officials made terribly mistaken decisions about the way in which the Euro currency could and should be instituted--i.e. without the necessary prerequisite authorities and operating issues resolved sensibly.   And, further, the study of these humanities would help economists recognize that now, these same very, very important high officials are before the stubborn facts of their errors and they want to do, to try, anything, no matter how dangerous or delusional, rather than face and admit their blunders--which, after all, had been very clearly pointed out to them well before they went ahead.

   At some point, don't even the highest world banking decision-makers, even European ones, and even with all their tremendous prestige at stake--don't they at some point have to admit that there just may be higher human priorities than the maintenance of the Euro currency at all costs?

     With everything else that this is, it's now also a deeply serious moral issue, the sort of issue which is at the heart of the humanities as disciplines.  Economics and economists must recover some of that before much greater harms are done out a blind and fear-driven denial which hopes to save very, very important faces.

"In such an environment it is not surprising that the ills of technology should seem curable only through the application of more technology..." John W Aldridge

by proximity1 on Wed Jun 1st, 2011 at 01:26:53 PM EST
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