Wednesday, January 05, 2011

Greeks and bonds

In a society that has endured something like total moral collapse, its monks had somehow become the single universally acceptable target of moral outrage. Every right-thinking Greek citizen is still furious with them and those who helped them, and yet no one knows exactly what they did, or why.

Impressive. I'm really not sure how anyone ever made a loan to Greece, Eurozone or no. So much for the efficient allocation of capital.

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