2nd Iron Law of the Eurocrisis

Ignore whatever the politicians have to say, and focus on the numbers.

The 1st Iron Law of the Eurocrisis teaches us that when politicians lack the means to solve a problem they pretend they have solved it instead. The lie allows them to maintain their power for as long as possible. Of course, this is a high stakes game that has not turned out so well for Mubarak, Duvallier and Mussolini among others.

In order to learn what is really happening within the Eurozone, follow the 2nd Iron Law.

In advising a focus on the numbers, I warn you to make sure that you are using the right ones. Political bodies will lie, and so you cannot trust the numbers emanating from the EU or any of the various European Finance Ministries. Only consult independent, third-party economists to inform yourself.

By the way, the consensus of these economists is that both Greece and Spain will eventually default.

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