Germany may be getting ready to give up on Greece.
After almost two years of fighting to contain the region’s debt crisis and providing the biggest share of three European bailouts, Chancellor Angela Merkel is laying the ground for what markets say is almost a sure thing: a Greek default.
After Greece defaults, Spain, Portugal, and Italy will watch closely to see what the ramifications have been.
If they don’t look that bad, they’ll follow suit.
There is no escape from any of this. Measures that were required in 2008 to fix things were never taken. Instead of safeguarding populations, governments threw all of their citizens under the bus to please crooked banks and corrupt markets — as if such things exist independently of us all!
None of this will end well.