Lets try to simplify what is the status quo of the Euro crisis, where the Euro and world stands today. I am trying to but in the chronological order from latest development to the prior one. Then we try to read between the lines.

The German chancellor said: “It’s important to me that we all stand by our obligations and wait for the troika report and see what the result is. We and I will encourage Greece to pursue the path of reform that demands a lot from the people.”
While the French president said:
“We want – I want – Greece to be in the euro zone, it’s a desire we have expressed since the start of the crisis. It’s up to the Greeks to make the effort that is essential for that goal to be met.”

Day before yesterday :  Alistair Darling, the former chancellor, has been speaking to the Huffington Post. He “strongly criticised the German government‘s policies towards recovery in the euro zone”.
it goes on: Darling believes the current debt management plan for Greece is untenable.

“You’ve got to have a settlement than is credible,” he says. “One that leaves the Greeks with more debt in 2020 than they started with is not credible. Their prime minister [Antonis Samaras] is not a firebrand, he won the election saying there was no alternative.
“And it’s not just him,” Darling goes on. “Spain, again a right of centre government, one that is following almost to the letter Mrs Merkel’s prescription, is saying this is not working. [Italian prime minister] Mario Monti, who is more mainstream if you like, could only persuade Italians to take the pain if there is some gain.”What you see in Europe at the moment is policies being pursued that are manifestly not working,” Darling concludes, “And this is like the 1930’s, they carried on pursuing policies which weren’t working. How much is it going to take to make them change their minds?

Lets see what Darling believes !! The current debt management plan for Greece is untenable.
“You’ve got to have a settlement than is credible,” he says. “One that leaves the Greeks with more debt in 2020 than they started with is not credible. Their prime minister [Antonis Samaras] is not a firebrand, he won the election saying there was no alternative.
“And it’s not just him,” Darling goes on. “Spain, again a right of centre government, one that is following almost to the letter Mrs Merkel’s prescription, is saying this is not working. [Italian prime minister] Mario Monti, who is more mainstream if you like, could only persuade Italians to take the pain if there is some gain.”What you see in Europe at the moment is policies being pursued that are manifestly not working,” Darling concludes, “And this is like the 1930’s, they carried on pursuing policies which weren’t working. How much is it going to take to make them change their minds?

Darling talks sense now that is news worthy….
I don’t like the 1930’s reference though as we all know where that led in the end Germany deciding to take control of Europe and whilst they are not using guns they are still calling the shots with their placement… We have a similar style of PM in the UK too as then… weak and tempted towards appeasement..

Trying to summarize the above by a Trader quoted “The Black Death (bubonic plague) started from the South and moved Northward too. Starting in Greece & Sicily.” Something must be done now; no more delay. This is going to get worse the longer it is unresolved.

Stop the contagion.
Cut it off.
Solve it.
Pay for it.
Guarantee it.
Do something.

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