German economist Hans-Werner Sinn, who has been implacably opposed to the Eurozone bailouts and so-called debt mutualisation is at it again with an article in the UK Guardian yesterday (October 22, 2014) – Europe can learn from the US and make each state liable for its own debt – calling for Eurozone states to be forced to take responsibility for their own public debt and became bankrupt if that responsibility leads private creditors to cease providing funds to these states. Like all these vehement (and often German) perspectives on the Eurozone crisis, his solution based on a comparison with the federal arrangements in the US, leaves out the crucial element that renders the comparison invalid – the lack of a federal fiscal function in the Eurozone (compared to the US). Further, his solution would have led to the Eurozone breaking up in 2010 had it been implemented at that time. It’s what happens when one is blinkered by an ideology that does not permit evidence and experience to modify its more extreme dimensions.