How do you deal with a country that can’t pay its debts? Loan it more money…
As we all know, this isn’t about Greece and really never has been. It is about the European banking system. If Greek goes bust, the banks go bust…The idea is to nurse Greece along for a long enough period so that the banks can prepare to withstand the inevitable restructuring. Right behind Greece will be Ireland, which has very little chance of paying back its debts after bailing out its banking system…
On the bright side, Greece won’t leave the euro. Whoopie!
