“I just wish they’d make up their minds,” a friend said last week. “Either save the bleedin’ Euro or let it fail. Just get on with it.”
My friend is not alone in wanting some kind of closure to the great banking and sovereign debt crisis. I feel the same way. However the decisive action that everyone wants from the politicians or central bankers still hasn’t happened as I write. I think this is because they know there is no easy solution or ‘happy’ ending.
Instead, the austerity programmes are being pursued as I write, with a debt write-off for Greece, but only if they agree to the austerity measures, which is still not certain.