Incoming email from an acquaintance:
I just saw Robert Peston on the BBC 1 News at 10pm. He was recommending that the ECB come to the rescue of Italy and Greece on the ground that it is the only EU institution “capable of creating unlimited resources”. Not unlimited money; unlimited resources! It’s magic.
Somebody should Occupy the BBC.
A BIT LATER: I just googled “ecb unlimited resources”. Alas, plenty of hits. Try it. Peston is only expressing a general mood. A general mood of complete insanity, but a general mood.