Greek politicians have now completed the final round of their new national game OXI! (NO!) and have failed once again to offer themselves up for sacrifice at the Euro altar. A disorderly exit from the Euro now seems inevitable. Yet the head of the European Bank, Christine Lagarde, has spoken of her bemusement over the present crisis, telling us that she thought she had "covered all the possibilities." All the possibilities except the most obvious it would seem. And that, apparently, is the nub of the problem. Many European leaders, though there are less of them every day, just cannot accept that their most cherished economic theories are more or less bunk. Nor can they bring themselves to see the glaringly obvious truth that the system is now broken beyond repair. It does not need fixing - it needs replacing. Growing inequality is no longer acceptable and, if we are to believe that "we're all in this together," we want concrete proof that it is so. Rewarding the wealthy for yet another failure is no longer an option. And if the wealthy can't accept this then they should be allowed to emigrate to Mars or Pluto or wherever they feel their money can keep them safe.
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