Pragmatic

Hey Germany, Enough With the Self-Righteousness!

With Germany driving the European debt crisis to the brink by refusing to bail out Greece, New York Times columnist Joe Nocera makes his case for amoral pragmatism when it comes to international fiscal policy. Germans have hesitated to help Greece because they believe the fiscally reckless country needs to learn a lesson—even though a bailout would be mutually beneficial. In essence, Germans are “allowing their sense of righteousness to get in the way of sensible policy.” No, it’s not fair to Germany, “but if we ... can’t stop obsessing about what is fair, we’re never going to get out of our current messes. The only thing that should matter is what works.”