Quote of the Day: Europe's Bellwether
From Dan Drezner, commenting on the latest twists and turns in the eurozone saga:
I've said it before and I'll say it again: any time the global economy is counting on Silvio Berlusconi to do the right thing is not a good time.
I think Berlusconi is an object lesson for America. This is what could happen if we actually elected someone like Sarah Palin or Herman Cain president. It's just a bad dream for us, but the Italians actually did it.
More here from Gavyn Davies via Paul Krugman, who says the best way to think about the eurozone mess is that it's fundamentally a trade deficit problem and nobody is even pretending to know what to do about it.