I have been asked to comment on Greece and the Euro, seeking 1000 words by Thursday. Too busy really, but this was the overview of what I might or might not write:

My view is that Greece should stay in if they want the discipline a fixed currency could give them, but the others should kick Greece out if she is going to drag the common currency down. But as to whether there should be a common currency at all, I think the UK made the right decision to stay out. It is politics and not economics that is the reason it has lasted even this long.

In the long run, staying in is best but would require a discipline the Greeks have not so far shown. I doubt they can do it, and the others won’t miss them when they’re gone, but for the Greeks overall, if they can mend their ways, they will be better for it. But since the world only gets run once, they will never know the alternative future they missed so won’t think anything positive about the result.