The irony is not lost, that Greece is caving in to the Eurozone demands to accept a bailout, which will ultimately force a bail out of the Euro. The bail out of the Euro has been postponed, for now, although it should not be lost on anyone that what Greece has agreed to, amounts to cutting off their arms just so that they can go back to the table to discuss whether they'll have bandages for the bleeding.
France, UK and the US have (roughly) matching business cycle recessions, timed at about once every decade or sooner; if the last trough was 2009, it's safe to say that Greece has less than 4 years before it has to face the music once again, although by then the Eurozone itself may have undergone drastic modifications or broken up entirely.
That is, if Greece doesn't erupt in massive protests and kick out Syriza for capitulating after gaining overwhelming Greek support to reject the very package they're now accepting. Syriza is either terribly inept or totally inept; the only way they're seen as brilliant, is if they somehow manage to quietly plan an introduction of a sovereign currency, and when Germans aren't expecting it, announce that they're leaving the Euro.
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| Waiting for a bailout or? via Telegraph |
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