Trouble in even a peripheral country like Greece, whose GDP is less than a tenth of Germany's, posed dangers to all.

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Its strong balance sheet allowed Ford to go on a spending spree, paying top dollar for those European car companies and even buying up peripheral businesses like repair shops, Hertz car rental and a junkyard.

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An activity that was once regarded as peripheral, perhaps even reprehensible, has become cool, celebrated by politicians and embraced by the rising generation.

ECONOMIST: Entrepreneurialism has become cool

Europeans do not need to compound the peripheral economies' problems with even deeper austerity.

ECONOMIST: The world economy

Consequently, even when our phones sit perfectly still, simply having it in our peripheral vision tempts us to split our attention, leaving less mental firepower for doing our work.

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But that may be the lesser of two evils: capital controls might pose an even greater risk if they lead to a wider loss of confidence in other weak peripheral banking systems.

WSJ: Now We Are Seeing Politics in the Raw

This was presumably going on behind the scenes even while the two companies held hands in public for the sake of the Xbox 360 and the first-gen peripheral.

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