Deeply in the red

Helen Szamuely points us to a nice time line of the Grecian Euro Crisis, in which a number of experts raise doubts about the effectiveness of the deal (the non-bailout bailout) concocted last week.

On the same topic, Wretchard takes stock of the economies underpinning the Greek bailout. That is where we find all signals starting to flash red:
The real problem now is not whether there’s something to worry about, but how to get out from under. The terrible skeins are all coming together: the accumulated fecklessness, the foreign policy misjudgements, the deception and the unkeepable promises are gathering like a terrible storm. An entire era has come to the end of a joy-ride. The bill has come due; and everyone is doing a courtesy reach-around for his empty wallet hoping that someone else can pay for what they can’t.
Oh, happy days...

1 reacties:

DP111 zei

Well worth a read

he land of perpetual crisis - by Richard...

http://eureferendum.blogspot.com/2010/03/land-of-perpetual-crisis.html

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