EXISTENTIAL CRISIS: EVEN THE GENERALS ARE WARNING THE ECONOMY COULD TAKE US DOWN WE NEED TO BE ‘BE BLOODY, BOLD, AND RESOLUTE’
This “most terrifying and boring” European economic crisis just gets worse. It is agonising watching this greatest of slow‐motion train wrecks take shape in front of us. We have again witnessed the key participants duck the fundamental issue ‐ turning around public and bond market perceptions and confidence, and agreeing a road map for growth – and instead turn on each other and turbo charge the crisis. Last week in Brussels diversion tactics trumped sound strategic judgements. Under pressure, Merkozy and Cameron scored strategic own‐goals.