Greece, a goner?

The modern history of Greece is one of political instability.  Add to this economic instability, a citizenry being ravaged by austerity imposed from without and no obvious signs of a remedy for the social ills being created.  A triumph for the European ideal.

The tragedy being played out in Greece is shameful.  The guilty parties are those who signed up to the nonsense of the eurozone.  Siren voices who pointed out the structural failures of the eurozone: lack of a central bank with teeth, no arrangements for capital and revenue transfers were laughed out of court.  Those who mocked the dissenters are not laughing now.  But they will escape public opprobrium.  Convenient to have bankers to heap blame on.

http://www.telegraph.co.uk/finance/financialcrisis/9067564/Greek-trump-card-fails-as-stronger-Europe-shrugs-off-break-up-threat.html

http://www.spiegel.de/international/europe/0,1518,814095,00.html

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100014697/for-greece-a-tear-for-brussels-a-blush/

http://www.telegraph.co.uk/finance/financialcrisis/9070286/Euro-soars-as-ECB-offers-debt-deal-to-Greece-as-talks-continue.html

UPDATE:  http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100014720/greek-death-spiral-accelerates/

http://www.telegraph.co.uk/finance/financialcrisis/9072118/Eurogroup-to-discuss-Greek-austerity-deal.html

http://www.telegraph.co.uk/finance/financialcrisis/9070991/Greek-austerity-and-reform-measures-factbox.html

Greece is heading for civil chaos.