There is a lesson in the Greek election result. Politicians can push a population so far but then it decides enough is enough and will go where no-one dared to go. With 25% unemployed, an economy shrunk by 20% it’s surprising it hadn’t happened before.
The new Greek government doesn’t want to leave the Euro, it wants its debts written off. That could be possible but no doubt there are assurances that will be needed and there is the possibility of a queue of countries wanting a write off of debt. Will the leaders of the Euro blink. They’ll perhaps write down the debt with a sham agreement. Interesting to see.