Greece: Behind Schedule and Running Out of Cash

[Valin]

Via Meadia:

Walter Russell Mead

8/7/12

 

ECB chief Mario Draghi’s last-minute euro rescue plan lies in shambles and Italian PM Mario Monti warns of the “psychological dissolution of Europe.” Now the Economist is reporting that Greece is far behind on its committments to international investors and may not implement all of the promised reforms for years, or even decades:

 

(Snip)

 

The government is quickly running out of money and won’t get any more unless the reforms are put in place on time, which is looking increasingly unlikely. Some predict that the state could go broke as early as September, with a possible Euro exit to follow shortly thereafter.

 

Meanwhile, the list of countries facing imminent bankruptcy grows longer every month. If these countries follow Greece’s lead in their handling of European rescue packages, there is real reason to doubt whether the euro will last.

 

 

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It should be noted that many of those crazy stupid right wingers here in America and in Europe predicted this 10-15 years ago. Hate to say I told you so, but.....I told you so.