Suppose that the crisis had begun, as it might easily have done, in Ireland? It would then have been obvious that ﬁscal irresponsibility was not the culprit: Ireland had a budget surplus and very low debt. More to blame were economic imbalances, inﬂated property prices and dodgy bank loans. The priority should not have been tax rises and spending cuts, but reforms to improve competitiveness and a swift resolution of troubled banks, including German and French ones, that lent so irresponsibly.
Flying Rio In last week’s Alarm für Cobra 11: die Autobahnpolizei (episode ‘Die Geisel’), you see the Kia stop with the ﬁrst crash. But then it inexplicably launches at Semir’s BMW.