Monday, December 6, 2010

Hey, If It Works, Don't Knock It

Nicolas Sarkozy's latest moves--remaniement, marathon news conference--were nearly universally panned by the commentariat, but here he is, up five points in the polls. Random fluctuation or meaningful uptick? Beats me. As Sarko is fond of saying, commentators comment, deciders decide. And let the chips fall where they may.

"Unable to Cope"

Wolfgang Munchau finds the European Union "unable to cope" with the continuing economic crisis. The third of his six points is worth noting:

The third is a breakdown of communication. The EU has a tendency to hype whatever it agrees. The markets first react with euphoria to the announcement, then with disappointment once they have read the small print.