Euro doomsday looms
As Greek politics become increasingly chaotic, the once-taboo subject of Euro disintegration has become unavoidable
http://www.salon.com/2012/05/15/euro_doomsday_looms/
In what will surely be considered ironic from historian’s point of view, I am quite sure that initially this will result in an even further reduction in the interest the US pays on its debt. That, quite naturally, will lead to further spending (but not on stimulating the economy, to be sure! Don’t want to give any of those deadbeat ‘ordinary’ people any free tax dollars, that is for rich people only!) which will only further exacerbate the day of reckoning.
Of course, there exists the chance (very small) that the EU decision makers will pull their collective heads out of their collective asses and realize that enacting austerity measures is exactly the opposite of what should be done at this time, but I wouldn’t put any money on it.
