Interesting article. The weaker less competitive economies are in trouble.
It appears that the EuroZone countries were too eager to bring in the marginal countries in the beginning... now it is causing problems.
Taxpayers (voter) from the strong economies are not willing to pay more.
Restructuring is a euphemism for default.
I suppose an option could be to sell off Greek Assets to attack external private investors.... (e.g. Parthenon sold to Disney
)
Gotta wonder if Greece will opt out of the EuroZone, default, and devalue their currency?
The euro crisis: A second wave | The Economist
Back during the debts of the crisis... I thought I read where the European Plan was not as comprehensive as the American Plan.... Am I wrong on that, or is that correct? Maybe all of the EuroDrama is just the final realization of a plan that was doomed to failure (not enough bailout money).
I suppose the Germans and French will work something out with Spain because it could drag them down.
Portugal, Ireland, and Greece may be asking to opt out of the currency provision of the EuroZone and revert back to their own currency.
What a mess!
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