Greece Makes World Markets Tremble

Things look bad for Greece. “With or without support from the EU the bottom line remains that after years of fiscal mismanagement the market has little confidence that Greece can swallow the necessity austerity measures and slash its budget deficit,” one expert says.

Some want to blame the euro, but I think they are wrong. European governments must learn not to escape the economic consequences of populist politics by devaluation, which is only a nice word for cutting the value of people’s property.