One of our journalist friends recently compared business reportage to sports. “You know, lots of numbers, pretty girls”, she said. This morning one pundit, reporting the box score, was actually assigning a percentage probability to the re-adoption by Greece of the drachma. Unbelievable Next thing you know there will be a “bug” in the corner of Fox, Bloomberg and CNBC screens labeled “Countdown to Dissolution” or some such nonsense. What this illustrates is the off- handedness with which policymakers are lurching towards disaster.
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