Wake me up when this particular "euro crisis" is over. We are in like Season 37 of this crappy soap opera and it's all getting rather tedious - nobody cares
Comments
Log in with your Bluesky account to leave a comment
Is it too much to suggest euro-area economists have a particular penchant for this "drama" just because the actual economy never does anything interesting? 😂
For me, it is usually Brits and Americans I get most of the questions from about euro crisis/break up, the old cliches and common places never die it seems.
I would expect you know much better! I wouldn't presume to be making political forecasts for France. What I would say though, is, does it fundamentally alter the fiscal picture either way? prospects of substantive consolidation were pretty dim already.
I was hoping you would have a crystal ball. Only guess is the obvious one: political volatility, no government for a while... but not sure how that will change political positions of key parties (socialist). Did not expect consolidation but concerned about market reaction.
You could argue that the fact that the economy doesn't do anything interesting but just steadily declines, accompanied by an equally deteriorating security situation to the east, are in fact the real crises and are far more serious and existential than a few basis points on French spreads.
Europe is dying of austerity and careerism, with the incompetence of its public economists multiplying the corrupt and vacuous sloganeering of its politicians...🤡🤑😭
Without wanting to sound like a 30s European authoritarian, it does feel like there is a need for a (democratic!) leader who is not content with managing the increasingly sclerotic status quo but is actually dynamic and *leads* rather than manages.
Agree: I think he was called either Emmanuel Macron or Mario Draghi!!! The problem, as the problem has been since 2009, is that the Germans said and say "nein" to such ideas.
To butcher a quote from Dixon's 'On the psychology of military incompetence': "Spreads will look a darn sight worse with a load of bloody Russians running around"
Comments