By Francine Lacqua and cross-pòsted from City AM
Back in 2010, as the Greek crisis began, I was up in the mountains of Davos interviewing Joaquin Almunia, the then EU economics commissioner. Eight times I asked him: does the EU have a Plan B if Greece’s banks fail?
After fudging an answer on the first four attempts, saying Plan A was surely going to work, he lost his temper and shouted back: “Please stop asking. There is no Plan B. We only have a Plan A – and it will work.”
That’s a bit rash, I thought. Why wouldn’t you have a Plan B? I have a back-up option for almost everything that could lead to an emergency in my life (please don’t judge – I have a household to manage). If the kids need picking up and I can’t go, I know who to call. The same for when my PC doesn’t start. And for the babysitter, plumber and electrician too. Sometimes I even have a back-up for the back-up.
But the commissioner told me he didn’t want a Plan B because then everyone would assume it was, in fact, Plan A. Just like Tyler Durden’s first rule of Fight Club, in case you haven’t seen the movie: you don’t talk about Fight Club…