Sublime

As one author put it, the history of northern conservatism has been that it demurs to each aggression of the progressive party, and aims to save its credit by a respectable amount of growling, but always acquiesces at last in the innovation.

This wasn’t a solvency crisis, said Draghi, it was a liquidity crisis. (In truth, so long as an entity is supported by a central bank, there can be no insolvency.) Never mind that monetary policy was no substitute for the political and economic reforms necessary for the long-term survival of the single currency – that could be ignored for the momen

Berggren was at least prepared to nail his colors to the mast: “I’m a republican, basically, and it’s definitely an intellectual nuisance, but I tend to agree with Engels that it’s a distraction.