24 January 2012, 17:58
Even Aunty Beeb is reporting the mess we're in http://www.bbc.co.uk/news/business-16699807. I've been watching all this with dismay for the last few months: it's looking pretty grim. I keep hearing things like '1930s moment' and it scares the bejeesus out of me. If anyone else has read 'When Money Dies' about the economic collapse in Germany in the 20s/30s, you'll know what I'm saying. I'm not generally pessimistic, but the Greek debt swap impasse (and stalling) looks like its going to lead to a default (no agreement on debt = no second tranche of loans), then who knows what will happen ...