Greece has not got the money to pay its debts and Europe’s big beasts are unwilling to offer more subsidiesA trap door is slowly opening under Athens. The Finns appeared to give it a little nudge last week with a leaked report offering a glimpse of its battle plans should the Greeks exit the euro. In Berlin, the finance minister’s obsession with paying down debts (bizarre when German infrastructure is falling apart) was on display again and gave a further clue that he will not tolerate Greece reneging on its own borrowing.While words like denouement have been used before in reference to the crisis, it looks as if we are on the last chapter of a very long book. With only days left to present a plan and not more than two weeks to come up with some serious cash to repay outstanding loans, Athens is at crunch point. Continue reading...
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