Ms Merkel told German television yesterday: “The markets want to force us into doing certain things – and that we won’t do.” She added: “Politics cannot and will not simply follow the markets.”
We\’re rather getting set up for another pantomime, aren\’t we?
\”Oh no we won\’t!\” say the politicians.
\”Oh yes you will!\” say the markets.
Recall, \”the markets\” are not some distinct entity, that\’s simple reification. They\’re just the accumulated actions of some 7 billion human beings. The battle is not between the tribunes of the people and some cabal of shadowy financiers.
It\’s between the tribunes of the people and the actions of the people.
And the thing is, not only do the people have more power in the end than the tribunes do it\’s right and proper that they should do so as well.