Germany should get out of the euro and leave markets in peace

Greece is going bust. The euro is sliding. The bond markets are in open revolt. And what does the German government decide to do? Shoot the messenger.

The German government rocked the markets last week with a swift, unilateral ban on short-selling and speculation in European government bonds. It caught everyone by surprise.

Chancellor Angela Merkel followed that up with calls for a new tax on financial transactions, and a European credit-rating company to replace the existing US giants.