Monday 11 December 2017

Brendan Keenan: Unpleasant times ahead if we miss troika targets

WHEN you have eliminated the impossible, Sherlock Holmes observed, whatever remains, however improbable, must be the truth.

This is the brute logic that has forced Germany into suggesting an EU budget "commissar" for Greece, to ensure that Athens complies with agreements on how to cut its budget deficit.

The Russian word commissar may be more sensitive than could have been used from other languages. When Greek finance minister Evangelos Venizelos said the proposal ignored some "key historical lessons", we all know which lessons he had in mind.

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