This is the gist of an excellent piece by Bruce Anderson in today's DT entitled 'Eurofanatics should join Marxists n the dustbin of history'. Its well worth a read . He compares the plight of Greece to that of Liverpool around 1980 when they could not compete with the South East and London and had to receive a huge bail out. Does he not realise he is writing about Deputy Fuerher Nutall's bailiwick.
Anderson points out how intellectually very able people have throughout history performed contortions to deny fact that does not suit their theory. Papal infallibility, flat earth heliocentric solar system denial etc.
He includes a brilliant quote that we " should allways be afraid of people in possession of what they know to be the truth. They will do anything to see that the facts are changed and whipped into shape to agree with it " - ie their perception of the truth.
Meanwhile back at the ECB the Italian in charge has installed a Belgian as ECB chief economist to replace the hard line Kraut who resigned in protest against money printing. Who are the two most indebted countries in the EU? Why Italy and Belgium now Greece is a basket case. Crank up the ECB printing presses. They are going to be needed big time.
Mean while in the ECB