Tuesday, 13 September 2011

When we have shuffled off this Greek coil

Tom McDonnell: The sounds out of Germany are becoming more confused by the day. Increasingly there is a growing expectation of a Greek default. Yanis Varoufakis asks whether Greece is finished over at the Social Economic Journal.
While a Greek default may be inevitable Yanis argues that Germany will not allow Greece to default before the Germans have put in place a plan for splitting Greece’s monetary system from that of the surplus countries. He fears the German plan will precipitate an uncontrolled disintegration of the Eurozone leading to a hard recession across the continent.

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