Tough choices ahead: Hanging or the firing squad?

TOUGH CHOICES AHEAD

While having a choice is nice, it does not necessarily mean the underlying problem is solved.

As the eurozone debt crisis lurches from bad to worse, it is becoming clearer that, despite the best intentions of politicians, bankers and policymakers from all corners of the globe, the solution (if there is one) is going to be mightily unpleasant for some, possibly terminal for others. Unsurprisingly, the terminal candidates are trying to make sure it is someone other than themselves that will bite the dust. Merryn Somerset Webb of MoneyWeek reminds us of Sherlock Holmes’ insightful assessment: “Once you eliminate the impossible, what is left, however improbable, must be the truth....