The FT is out with its 2010 ranking of the Finance Ministers of the year.
The last one, of course, is Brian Lenihan of Ireland. His early move to guarantee the debts of all Irish banks really did bankrupt the state.
The winner is Germany’s Wolfgang Schauble, and frankly that choice is insane.
Yes, Germany’s in good shape, but there’s been nothing so consistent this year as crisis and tremors coming not long after anytime Schauble (along with Merkel) opens his mouth.
Nothing he’s said has done anything but make people more nervous about the situation there.
To some extent, Germany represents the platonic ideal of economic management: The country has a well-known disdain for stimulus, and a clear love of hard money, and its wealth is based on imports and building things. And that’s all fantastic. But none of that makes Schauble so good, and when everytime you get on the mic, panic ensues, maybe it says something, and maybe it means you’re not the best finance minister there is.
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