Citizens of Germany, Finland etc - Oh Dear! You have, been sold-out by your leaders .............
the credibility of the EUROZONE would be GREATLY ENHANCED if Greece were allowed to default/restructure .........it is simply not feasible to continue on the current policy paths for much more than a few qtrs.............EVERYWHERE seem to have decided that the only way out of the hole is MORE DEBT, MORE DEBASEMENT, MORE BAILOUTS, ugly INFLATION and/or even uglier STAGFLATION, FAKE AUSTERITY, ZERO STRUCTURAL ECONOMIC REFORM, & MINIMAL REGULATORY REFORM...............
We are trapped in some horrendous Keynesian/monetarist nightmare, where policymakers, aided/abetted/advised by their buddies in the media, in the lobbyist cabal and in financial system, have YET AGAIN decided to go down the route which merely delays the problem/pushes it down the road, but which virtually guarantees that when the NEXT bubble collapses (I assume it will be the Global Government Debt/Bond Bubble and/or the Global Fiat Money/Paper Money/FX Bubble), there is NO pleasant way back. .............. When this bubble bursts, I really do think 08 will look like a picnic.
SKF
