Greece on the brink. No, really - this time for sure

It usually about this point in a crisis during the two year long melodrama of Greek debt, that a knight in shining armor rides onto the stage to save the fair damsel and yank the Hellenistic world back from the brink of destruction. At various times, it has been the EU, the European Central Bank, "Merkozy," or even pure dumb luck that has saved the day. Who will ride to the rescue if the Greeks don't even want to save themselves? FT: Lucas Papademos, the Greek premier, failed to make party leaders accept harsh terms in return for a second €130bn bail-out, pushing Athens closer to a disorderly default as early as next month. Greek television reported that Mr Papademos has set a deadline of midday on Monday for the three leaders to let him know whether they agree in principle with the proposed austerity measures, before he meets them again later in the day. After five hours of discussions, the three leaders of Greece's national unity government had not accepted demands by...(Read Full Post)