Europe to save banks and let Greece slide

Posted by Kitara Julian On 9:21 PM
IT NOW appears Europe is prepared to pay what it needs to pay to save its banks - but not to rescue Greece. Once again, there is optimism that a new round of European talks will result in the announcement of a Greek bailout.

On Thursday, the Greek political parties caved in and agreed to a new austerity package that will satisfy the latest European demands, with much of the rest of Europe saying - just as it did two years ago, when Greece's distress was just becoming clear - that it is a small country of little importance to the rest of Europe.

Perhaps Europe, in its stumbling and sometimes unorganised fashion, will have accomplished a large part of what it set out to do. It will have put a fence around the Greek tragedy and preserved most, if not all, of the euro zone. As for rescuing Greece, well, you can't win them all. Read More

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