Greece update

I haven't covered the riots and anarchy in Greece, nor the latest round of political fighting, because the crisis is now in full bloom. You can go to any major newspaper and see the evidence on display. Saying that this is a social mood driven event and focused on the political, rather than economic aspect, seems superfluous. However, to update the situation, this is just the first stage of the crisis. Greece will continue to limp from bailout to bailout, but the eventual default is coming and with it even more international political conflict. The survival of the European Union itself is at stake as we get closer to 2020 and beyond.

Mish has a good roundup in Cracks in Agreement in Greece, Finland, Germany, France; Of Duct Tape, Glue, Rubber Bands

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