Thursday, 23 July 2015

How I learned to stop worrying and love the Euro

If the Euro is, as per Mark Blyth, 'a financial doomsday device', then who's the crazed fanatic planning Armageddon from the War Room bunker?
In reality [the Eurogroup's] direction is very much steered by German finance minister Wolfgang Schäuble. Schäuble is a Dr Strangelove of sorts: as talented and single-minded as the German recruit in Kubrick’s classic, yet with one crucial difference: he does not make you laugh.
But he does have the same single-minded, insane, relentless logic:
President Merkin Muffley: How is it possible for this thing to be triggered automatically and at the same time impossible to untrigger?
Dr. Strangelove: Mr. President, it is not only possible, it is essential. That is the whole idea of this machine, you know. Deterrence is the art of producing in the mind of the enemy... the FEAR to attack. And so, because of the automated and irrevocable decision-making process which rules out human meddling, the Doomsday machine is terrifying and simple to understand... and completely credible and convincing.