Global Monopoly

Which country is Lehman Brothers *? Who will land on the get-out-of-jail card? Who’s turn is it to roll the dice?

These and other question seem to be increasingly in the minds of the big players in the old continent, who are already thinking about the quadzillions needed to save the world. But, first of all, we need to think of the entities that pose a systemic problem before we let them fail.

“I would be very reluctant to say: ‘O.K., let Ireland or Greece default, the market will sort it out, punish them for their irresponsibility of the past,’” said Thomas Mayer, co-head of global economics at Deutsche Bank AG in London. “They tried it with Lehman and realized that was not a good idea.”

Since we have learned a lesson or two from our past six months experience, I am just gonna sit and wait for the rhetoric to shift to the “good country – bad country” idea which seems to be the current solution for our headaches. I say gather up the bad citizens and ship them all of together to Russia or somewhere. I am also waiting for a wave of M&A activity across EU countries in the next few months. Go Greespanytalia!!!

* If you answered Iceland, please email grandprize@bailout.eu. The winner gets 1 trillion of Icelandic government bonds.