Greek Crisis Exposes Cracks in Europe's Foundation

Some scary stuff.

http://www.washingtonpost.com/wp-dyn...l?hpid=topnews

" There is little doubt that Greece's debt crisis is of its own making, the RESULT OF CORRUPTION AND TAX AVOIDANCE and that seductive Mediterranean coupling of high living and low productivity. Greece now finds itself in a trap where the only way it can refinance its crushing debt load is to drastically cut spending and raise taxes, but doing so will almost certainly plunge the economy into a deep recession that incomes and tax revenues will fall and the governent will be unable to meet its debt service requirements".