Open brief.

De Spengler-columnist van Asia Times Online heeft het volgende advies voor de Duitse bondskanselier Angela Merkel: laat Spanje vallen en redt wat er te redden valt.

Spain is unsalvageable. It is better to take the pain early and deliberately, rather than later and chaotically. Dealing expeditiously with Spain, moreover, should convince Italy to adopt the reforms which can prevent it from following Spain and Greece into de facto national bankruptcy.

Spanje staat er zo slecht voor dat een bailout onmogelijk is. Onze Hannibal maakt vandaag min of meer hetzelfde punt.

Spengler weet dat de wereld moord en brand zal schreeuwen -- de euro staat op het spel! de hele bankensector gaat ten onder! -- maar daar moet Merkel zich niets van aantrekken. Ze kan eventueel de Franse banken redden die door een Grieks en Spaans bankroet in de problemen komen, maar die landen zelf zijn ten dode opgeschreven.

It would be something of a revolution in world affairs for Germany to ignore the international consensus and undertake to resolve the crisis on its own initiative. I submit to you, Federal Chancellor, that it is time for such a revolution.

You are the most experienced and best qualified among the leaders of the Free World. America is led by a man who was a first-term state senator in Illinois when you were in your second year in office; France is led by a man who has never held high government office; Italy is led by a technocrat with no political base; it doesn't matter who leads Japan, and one can only have sympathy for whoever governs Spain. For the time being the head seat at the table is yours by default. It is in your power to avert this crisis, if you act decisively.

Lees het hele stuk. U heeft Uw dagelijkse portie doemdenken gehad.