Month: February 2010

There is something comical about current talk about a potential Greek bankruptcy. No, the state of Greece’s public finances is certainly no laughing matter. But it is funny how politicians and financial markets are getting excited about this as if it were news.

If at some stage in the future people should wonder when enviro-fundamentalism became mainstream, it was probably in the commercial break of the 2010 Super Bowl.

Greece’s budget problems are not just a worry for this small economy at the periphery of the European Union. It is an acute embarrassment to European elites that pushed through monetary union for political reasons. If they had only listened to economic advice they would have spared their countries a costly economic adventure.

Consumers have no right to demand a certain price. But they have a right not to buy things when they find them too expensive. And that’s a message that even the most extortionate businessman understands.