Daily Archives: September 20, 2011

Gideon Rachman

The  bomb that went off in Ankara today killed three people and looks like the work of the PKK, the Kurdish group that has been fighting Turkey for decades. It probably makes a Turkish army incursion into northern Iraq, pursuing the PKK, all but inevitable. I was in Ankara yesterday. It was the first day back for all the public schools and universities, so the traffic was terrible. A bomb this week was likely to cause maximum mayhem. Read more

By Gideon Rachman

If you want to understand why the euro is in such trouble forget, for a moment, debt and sovereign bonds – and take a look at the bank notes. The images on euro notes are of imaginary buildings. While national currencies typically feature real people and places – George Washington on the dollar bill, the Bolshoi theatre on the Russian rouble – European identity is too fragile for that. Selecting a place or a hero associated with one country would have been too controversial. So the European authorities chose vague images that represented everywhere and nowhere.