|But the severe austerity measures being demanded have caused such fury in Greece, and the cuts required are so deep, that Wolfgang Schäuble, the German finance minister, does not believe that any government would be able to implement them.|
So we are running out of road to kick the can down and now it looks like Greece is going to have to face up to this problem and it seems the sensible course is to deal with it now before it becomes an unstructured default.
And as the Euro countries fight over what to do, we come ever closer to the unstructured scenario that they don't seem to acknowledge they are playing with by running into overtime over the new Greek loans.
It seems crazy to give them more money when you know you haven't a chance in hell of them being able to fulfill the conditions of the loan even if they wanted to so bother giving them the loan now?
Isn't this just making the consequences when they do fail greater for the nations lending them the current money? Why not just cut the chord now instead of later and organise the structured default now instead of fighting over terms of new loans?