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Friday, December 09, 2011

Stop Press! Wisdom on BBC website

Get a load of this:

How will the euro-crisis end?

Who knows?

Anyone who says they know how this will end is deluding themselves If anything is certain about this crisis, it is that nothing is certain. A big bank could suddenly fail. A government could fall, or announce a surprise referendum. Governments or central banks could conjure up a plan that might, just might restore calm (as in 2008). The economic data could turn out much better, or much worse, than expected. Public protests could explode - demanding exit from the euro, or demanding a democratically elected government in Brussels. Leaders could resign or be removed. Everything could be overshadowed by a crisis in an entirely different part of the globe (Russia? China? Iran?). Making predictions is a fool's game.

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