Σάββατο, Ιουλίου 16, 2011

Greece Will Default—and Four Other Reasons to Like Europe


The financial pages now have a 1940s quality to them: Most of the headlines are coming out of Europe. But despite all the negative economic news, things might not be quite as bad as they seem.
Rolling fiscal crises have rocked Europe sporadically since early 2010. Greece, Ireland and Portugal have required rescuing. Greece is up for a second bailout, and Portugal and Ireland aren't far behind. All but a cloistered few believe Greece will soon default on its debt, which could add another, nastier leg to the euro-zone fiscal woes.
For all the sturm, however, Ireland, Portugal and Greece ...

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