By David Mc Williams

What we are seeing now is the breakdown of conventional wisdom in Europe. With respect to the Euro, conventional wisdom is a strange and stubborn commodity. Normally it is technocrats who are at the vanguard of conventional wisdom. Theses technocrats don’t have to work in the public service. They can hide in dynamic companies for a while. But what bonds them together is a technocratic fear of change.

Fear of change is the handmaiden of fear of failure. Many so-called “serious” people believed the conventional wisdom that the Euro could not break up and they don’t want to look very silly when it does. They are driven by this fear of failure. If something, which they have staked so much of their reputation on, changes or succumbs to the redoubtable gravity of economic logic, they will fail. The worst thing that can happen to people who take themselves very seriously is being wrong

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Comment:

The clueless Irish Government have nailed their collaborator colours the proverbial Berlin mast and have forsaken their own oath of office to defend the interests of the people of Ireland  in favour of the 30 pieces of silver, the soon to be replaced Angela Merkel has given them. Instead of the fighting Irish been sent to Berlin we have sent a wimp and gombeens who are only too glad to carry out the wishes of Berlin and are devoid of any logical financial understanding .These idiots at best are touting tickets for a match that is already over!

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