FOOTBALL AND ECONOMICS

I suspect that a lot of people, and not just Greeks, were hoping that Greece would upset Germany in their Euro 2012 quarter final this evening, particularly since Angela Merkel was present at the game. But although the Greeks equalised after an hour or so, the outcome was never really in doubt, and a 4-2 result fairly reflected Germany's superiority. As in economics, strength in depth matters.

Walter Blotscher