bail me out

important events are unfolding at hand with greek administration peeling off successive layers of cabbage (for thats how long the crisis has been on) going like 'will bail me out' 'will bail me out not'

and before u know the whole EU will collapse in front of your eyes with spain portugal italy following the line greece takes. 

it's an interesting situation really, like if u read abt it (i should too!), when they made the union they had some rules to keep a check on debt versus gdp, coz they were adopting a common currency and a common currency can be threatened by unsound monetary/fiscal management by any member state. they also made a rule saying that they'll not bail out anyone. so germany is all going like we wont (and greece goes like bloody nazis). but real problems are two-fold

1. european banks' exposure to greece debt, so if greece defaults europe is screwed

2. euro goes spiraling down, it is doing that right now. so for no fault of their own, germany and france will witness devaluation in currency which is welcome to an extent, coz it boosts exports, but altogether harmful for euro

so really there is no option to but to bail out which will increase political tensions in the union. also what if other economies are pushed to the same fate. how many can they bail out? then the whole thing passes on to tax-payers in germany, france etc., they wouldn't like it at all

unless of course US and imf help which is again altogether unclear, US is not exactly in a comfortable situation herself with Fed sitting on a mountain of (worthless?) assets and again US govt's deficit is rising

but they are doing something. lets see