There is an old joke that the definition of a "gaffe" is when a politician, general, or other senior figure tells the truth without meaning to. I am quite sure, however, that Angela Merkel knew exactly what she was doing when she said that Greece should not have been allowed to join the Euro. Speaking to supporters in Rendsburg on Tuesday, Ms Merkel criticised her predecessor, Gerhard Schröder, for admitting Greece into the single currency. “The crisis emerged over many years, through founding errors in the euro. For example, Greece should not have been admitted into the euro area,” she said. I suppose it is inevitable that the remark should have attracted criticism in Greece, but frankly, this was a statement of the obvious. There was not enough convergence between the Greek economy and those of the remainder of the Euro-zone to make it wise to include Greece when the Euro was created. It would have been bettter both for Greece, and for the other Euro-zone co...