Tuesday, March 23, 2010

No Good Options for Greece

Looks like the Attic economy is going to have to dial up the IMF for some scratch, since the French and Germans are no longer interested in a bailout. The problem with the H St. option is that actually  increases the likelihood that the country will default because of the Fund's strict repayment standards. Given the intense protests that have already shaken the country, even more forceful austerity measures could lead to something far more serious. Good summary here.