November 28, 2010

THE IRISH BAILOUT: A WORLD RECORD. “A bigger-than-expected bailout for Ireland — does anybody expect Portugal or Spain (or Italy) to do any better? And what if it’s not just the PIIGS? Years ago, a fellow calling himself Gekko wrote a column for National Review, called ‘Random Walk.’ He predicted that the euro would be inherently unstable, because the economies it covers are so different from one another. I suspect Gekko is starting to feel vindicated, and I hope he has invested accordingly.”

I was worried about the EU’s future back in 2001.

UPDATE: E.U. Rescue Costs Threaten Germany Itself.