In February, I thanked our Greek friends for the fall of the euro. Some experts believe it will not last, but it's better than nothing.
The second thank you (I will not go to the mile if known) is to remind us of forgotten truths: to borrow, you need a lender. We feel that things could turn sour for Greece in the month of May The Greek authorities are well aware that the debt burden and rising interest rates (doubling for them in 1 year) is unbearable. Yes, but here it is: it is unnecessary but TWO 36 solutions: Accept the yoke of the IMF (which many countries have made for 20 years but when one is accustomed to constantly truander its statistics, the path must seem much longer), or take the path of devaluation and / - or default. The first is painful but the results some, the second may seem softer start to the population, but the noose tightens year after year.
Once the fate of Greece sealed (by the end of the semester), markets will look to the next victim could be Portugal.
In 1939, we quietly waited for all the smaller countries being swallowed by the ogre in Germany before we wake up virtually dead (our existence not only taking control of our winner). We do the same thing in the early 21st century, waiting to be - what will inevitably happen one day - the first in the list.
So I corrected the title of my column: A big thank you - again - to our Greek friends. But I'm not sure we will learn all the lessons of their sacrifice - inevitable.
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