Why Does Germany Take the Lead on Greece?
Germany often speaks on behalf of all international creditors when it comes to negotiating Greece's bail-out. Does it do more harm than good?
Germany often speaks on behalf of all international creditors when it comes to negotiating Greece's bail-out. What right does it have to do that? The Berlin-based former IMF official, Ousmene Mandeng, explains and says German pronouncements often do more harm and good. If it all seems a little irrational, Richard Thaler, economics professor at the University of Chicago Booth School of Business, explains why. He is the author of a book called Misbehaving, which says economics is not a hard science like mathematics, despite efforts in the 1970s to make it so. Rather, you need to draw on psychology and philosophy to understand it. And, our regular commentator Lucy Kellaway wonders whether motherhood counts as a job.
(Photo: Greek, German and European flags; Credit: Carsten Koall/Getty Images)