For a week or so, anyway. London’s The Economist, America’s tough but appreciative new Mom, ran this gem on October 1, which begins:
One by one, European leaders have lined up to hail the triumph of welfare over Wall Street. “The idea that markets are always right was a mad idea,” declared the French president, Nicolas Sarkozy. America’s laissez-faire ideology, as practised during the subprime crisis, “was as simplistic as it was dangerous,” chipped in Peer Steinbrück, the German finance minister.
And then Europe had a really bad week last week.
Photo: “Statue Garnier” by M. Daniel Schteingart