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May 21, 2012

What will happen on June 17?

Speculations abound:

"A Greece euro exit could make Lehman's collapse look like a tea party" - Richard Quest, CNN. Quest takes the position of inevitable exit and a radical reorganization of the eurozone by a strengthened fiscal authority with a central bank, treasury, and the EU member states as... well, subordinate states. This point of view seems to suggest that the abuse and misuse of power already seen in this crisis will be nullified by the allocation of even more power. I do not think this is the way political motion works itself out.

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