The Greek tragedy

Longstanding and dear friend, David Rowlands called in my office this morning, plonked himself down and handed me another of his letters. David is a full blooded Ukip man. I assumed it would be another of his 'outraged' letters - probably about the idiocy of pouring more billions down a Greek drain. But No, he was supporting me on my mission to prevent the mid Wales uplands from becoming industrialised by wind farm companies. It didn't matter because Boris dealt with the impending Greek tragedy in his Telegraph article today anyway.

Boris says that "We should stop chucking good money after bad". This will have a lot of purchase because so many people who talk to me about Greece agree with Boris. In fact people who talk to me about anything agree with Boris on this. Now, the consequence if no-one chucks more more money at Greece is 'default', exit from the Euro, followed by unpredictable turbulence across Europe and wider. Another way of looking at all this is to see the EU as developing into a single state (fiscally speaking) and these massive transfers as a sort of EU Barnett Formula - an extension of regional policy. This could well be the equivilent of Baldrick's cunning plan. I hope David didn't read the Boris article or he'll be back in my office tomorrow with another envelope.