Satyajit Das on Eurointelligence:
'Just as Margaret Thatcher favoured "sado monetarism" (a term coined by Denis Healey), the German plan for Europe is "fiscal B&D" (bondage and discipline).'
'Europe now resembles a chronically ill patient, receiving sufficient treatment to keep it alive. A full and complete recovery is unlikely on the present medical plan. Europe resembles a zombie economy, which functions in an impaired manner with periodic severe economic health crises. The risk of a sudden failure of vital organs is uncomfortably high.'
I wholeheartedly agree with Mr. Das. It’s unwise to bet on complete recovery in almost any economy, but it can pay off to bet on “keeping alive”.
Also in my private life I don’t bet on full recovery, I bet on survival.