There really is no such thing as a cloud without a silver lining. The crisis is now being used as a stick to beat Poles into accepting the euro as their national currency. “Look at Slovakia,” they say. They do not say: Slovakia’s central bank has surrendered its say in how to deal with the unfolding events. Cut interest rates? Raise them? That’s decided by that well known Slovak nationalist, Jean-Claude Trichet. Gazeta Wyborcza, inevitably, is at the forefront of the pro-euro movement. Yesterday they published an interview with one Radosław Bodys of Merrill Lynch headlined “The euro will move us from the Hungarian league to the Slovakian.” Now, I don’t want to be negative and all, but a Merrill Lynch expert? Aren’t they the same experts that, well, you know what banking experts have done to us recently.
Elsewhere, opinion polls show the majority of Icelanders now want in to the EU. The banking experts so comprehensively screwed up their economy that it’s hardly surprising. Maybe Naomi Klein was right.