Sunday, May 9, 2010
Greece and Europe
It has recently become very apparent that expanding the Euro zone to include countries like Greece was a mistake . This mistake seems to me to be one of elevating form over substance, if you put Greece in the Euro zone this will somehow magically transform Greece into a country which belongs in the Euro zone. You see this thinking in other contexts, admitting this student to an elite university or placing this applicant in a demanding job will magically make them capable of performing well. As with Greece and the Euro things often don't work out, particularly when the risks are ignored.