Knifonomics (part 13): Euromisery – actually not too bad.

Amidst the misery and gloom, with every BBC bulletin sounding a bit like Senna the Soothsayer, The Knife senses a glimmer of hope. Put simply, the crashingly autocratic political takeovers of Greece and Italy suggest  that the game is up, not least because the Greeks and Italians might themselves object.

There seems no way to avoid taking a hit over the Eurozone disaster, but it seems likely in the UK to be a controlled hit: medium earthquake, not many dead. Lots of opinion is now suggesting that this should be manageable. So, whether it’s a complete break up of the fragmented needy mess that calls itself the Eurozone, or one of the variations of break up, such as a Nordeuro, it seems that the sooner it kicks off the better. Smart commentators like Simon Jenkins are rapidly recalibrating in this direction.

One of the golden Knife rules is that you should make your key decisions by doing the opposite of what the idiots recommend. Given the reliably wrong Will Hutton,  the soon-to-be-defunct Sarkozy’s recent rantings, and  Tony “I say this with a lot of humility” Blair’s self important drivel today, it seems pretty obvious what to do.


NB:  Although Fraser Nelson and pals at the Spectator keep writing pieces on how the cuts haven’t actually bitten yet, The Knife – like all NHS staff – has had his pay frozen for a year and a half and inflation is biting. Just pointing this out in case any reader thinks I’m a rich smug austerity-proof capitalist pig.

** Since this post was published, here and here are two pieces, one from the great Lord Lawson, providing supporting evidence.


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