What to do about Greece... and everything else
Serious riots are continuing in Greece over the Eurozone financial crisis. Stratfor the global intelligence agency has produced a chart summarising the options and likely outcomes. And Woody Allen gives a view.
“More than any other time in history, mankind faces a crossroads. One path leads to despair and utter hopelessness. The other, to total extinction.Let us pray we have the wisdom to choose correctly.”
Demonstrators have hurled stones and firebombs at police in front of the Greek parliament as tens of thousands rallied to mark the beginning of a two-day nationwide general strike to coincide with a vote on painful new austerity measures. Read on...
Whichever actions Germany takes, three things are all but inevitable: an Italian bailout, a European banking crisis, and a Greek default. Any one outcome will likely trigger the other two.
This may look like a "damned if I do, damned if I don't" type of situation, but how Berlin handles the crisis could be the difference between a weakened euro and nonexistent euro.