Sunday 17 December 2017

Brendan Keenan: Faith in euro lured barbarians to the gates

Our 'inner Anglo-Saxon' believes the markets must be heeded in euro crisis

THE barbarians are at the gates. Not the Huns, or the Franks, or the Vikings -- but the dreaded Anglo-Saxons.

As the bond markets shunned even the German government last week, that view of the markets as unprincipled pillagers was expressed several times, in several ways, in Europe.

Pillagers are fairly undiscriminating when it comes to targets. Another view which got an airing was that it is more a conspiracy than a raid. There are those in the markets who want to bring down the euro, they say: it is all part of British hostility and, possibly, US fear of a rival to the dollar as a global reserve currency.

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