“LEAD OR LEAVE EURO” (September 10, 2012)

Thus George Soros to Germany according to a wide variety of newspapers today. Kind of harsh at first glance, but actually quite wise an advice. And Germany has a trusted currency all its own. If it pulled out of the euro, a number of its frugal northern neighbors could do the same and join the Deutschmark, as well. As for leading the rest of Europe, and especially its southern flank, Germany is best advised not even to try. That would be like herding the proverbial cats. So, I hope that Germany is listening to Soros’ wise advice, harsh as it seems to be at first. After all, he has performed miracles with a variety of currencies over the years.