Tuesday, May 31, 2011

Greek Bailout Tension, Second Try

This one's coming down to the wire.  European leaders are scrambling like mad to put together a second bailout for Greece that will enable that country to avoid living within its means.  It's too bad every country can't get such a sweet deal.  They sure are lining up to try, with Portugal, Italy, and Spain all in varying amounts of fiscal trouble.

This blog remains agnostic on the subject of whether the euro should continue as a currency.  European nations have the option of amending the EU's governance to enact continent-wide taxation and fiscal unity.  Short of that, insolvent member states (or their unwilling creditors) will drop out of the union one by one should the EU ever try to enforce the terms of bailouts and debt restructuring deals.

Okay, who wants gyros for dinner?  You're buying.