There is a deadline – March 20th. There is a plan – 70% default, much higher than what’s been suggested before. The Greek Crisis has everything it needs to conclude after two and a half years standing on the edge of a cliff. Left to negotiate is whether or not Germany will have a man in place in Athens to oversee the Greek budget process as what the Guardian calls a kind of “Viceroy”. It probably won’t fly but it does beg the question, “What if we had a German overseer to our budget process here in the US?”.
Nevermind, there have been enough diversions. At the EU summit this week the details should be finalized and the process for bailing out Greece will be in place. The world can move on to other worries. There is even the chance that the European Central Bank (ECB) will have some authority to print more Euros shortly.
Don’t care? You should. This is very important news to the US for astonishing reasons. The bigger problem, brewing for generations, is that we have lost control over our currency and have no chance to get it back unless Europe gets its act together.
Barataria - The work of Erik Hare 