Reuters: In Greek crisis, one big unhappy EU family
BRUSSELS (Reuters) - The latest paroxysm of Greece's debt crisis has exposed growing rifts in the euro zone which, unless addressed soon, could lead to the break-up of European monetary union, the EU's most ambitious project.
The most worrying sign for European leaders is that public opinion and domestic politics are pulling them increasingly in opposing directions - not just between Greece and Germany, the biggest debtor and the biggest creditor, but almost everywhere.
Germans, Finns, Dutch, Balts and Slovaks no longer want taxpayers' money to go to bail out Greeks, while the French, Italians and Greeks feel the euro zone is all about austerity and punishment and lacks solidarity and economic stimulus.
Update: Banks reopen, first repayments start as Greece aims for return to normal -- Reuters
WNU Editor: The above analysis is a sobering assessment on why the Greek bailout will fail. As for the present, the Greek banks opened today .... but the cash withdrawals are still limited at 60 euros/420 euros per week .... and with higher taxes being imposed on basic goods I expect the Greek recession/depression to continue.
Hat Tip to James for the above link.
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