When you have a few good bureaucratic central planners preserving a broke monetary regime, what can possibly go wrong? Perhaps headlines such as these:
- Senior German Official - No Idea When Or If Cypriot Parliament Will Vote On Proposed Bailout Programme
- Senior German Official - Situation In Cyprus Is Bad, Reasons For This Lie In Cyprus
- Senior German Official - With No Programme, Liquidity To Cypriot Banks Is In Danger And They Cannot Open
And then Schrodinger Schauble himself:
- SCHAEUBLE SAID TO TELL LAWMAKERS FEELS SORRY FOR CYPRIOT PEOPLE
- SCHAEUBLE SAID TO SAY CYPRUS LONG HAD WRONG BUSINESS MODEL
Wait, being a participant in a monetary cul-de-sac, whose eventual end leads to a very painful and often times lethal, hyperinflationary outcome, is a wrong business model? Who could have known. Naturally, with well-wishers like these, who needs bond vigilantes?