…Calmly observing the changing world

One of the realities of life is that debt skews a relationship.  Mostly because the lender wants his money back, and assurances of repayment only work for so long. And if the lender is Germany and the debtor is Greece, the time has come for something even more drastic in Germany’s eyes.  Jokes about island [...]

(Corrected) Occasionally I have called the European Central Bank “Germany’s Central Bank” in a tongue-and-cheek fashion, hoping to spread awareness that the second is more accurate that the first. The ECB is, without a doubt, a thoroughly German institution, and the German bankers would never have turned over their currency destiny to Europe as a [...]