Over at Politico, Klaus Larres (German) and Peter Eltsov (Russian) have a quasi-hagiographical take on German chancellor Angela Merkel, who is in fact an impressive figure.1 Unfortunately, Klaus and Peter aren’t always so impressive themselves, swallowing whole Merkel’s “no nonsense” approach to the financial crisis in Greece, groaning that “some well-meaning but perhaps not very wise anti-austerity advice from across the Atlantic by Paul Krugman and others hasn’t helped either to strengthen Merkel’s credibility.” Um, guys, where’s your Nobel?
Afterwords
Like so many no-nonsense types, Klaus and Peter believe that, in times of crisis, one must tighten the belt. As long as one is not wearing the belt oneself, that is. It was John Maynard Keynes who initiated the good fight against this stupidity, and Dr. Krugman has continued it. But against stupidity (and self-interest) the gods themselves contend in vain.
