Congratulations Paxo: Cyprus To Quite Euro If Need Be

Congratulations to Jeremy Paxman, for persisting with one of the oldest tricks in the journalist's trade. Ask the same question at least three times, not necessarily one after the other, or in the same form, but ask it at least three times.

Doing this on the BBC2 flagship current affairs programme Newsnight last night (March 19) he forced the hapless spokesman for Cyprus to state in public on the record that Cyprus will leave the euro and revert to using a Cypriot pound if all else fails.

Once the principle has been conceded, it is only a matter of time till the practice follows.

One other question immediately presents itself. Who's next? Quitting the euro and devaluing are surely preferable to the alternative suggested by the various depictions of Chancellor Merkel as the most infamous of her predecessors in the role...