Tired of all that sanctimonious drivel spewing from the likes of Dani Rodrik and Willem Buiter? Head aching from the cacophony of shrill voices rejoicing at the end of the world?
Then consult the good doctor Martin Hellwig; see here.
He also has a very nice article entitled "International Contagion: The Result of Information or Rhetoric?" that is well worth reading.
Would be interested to hear what people think.