Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
That's all true, but doesn't speak to the point I was making at all.

My point was that if you had been Senate and People of Spain in 2001 and, for some reason that defies rational comprehension, decided to hitch your wagon to the Eurozone, would it be better for the Spanish people to accommodate German mercantilism by blowing a real estate bubble (as they in fact did) or by selling bogus government bonds (as Greece did)?

My point is that that choice is far from clear-cut in 2001.

In 2012, after the fact, it's obvious what should be done. But also totally irrelevant to the discussion I was commenting on.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat Feb 18th, 2012 at 04:29:01 AM EST
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