Greece Nears a Tipping Point in Its Debt Crisis

Anders Borg, the Swedish finance minister, said that “the politicians seem to be behind the curve all the time.” Citing a “clear need for bank recapitalization,” he added: “We really need to see some more political leadership.”

Despite the potentially grave consequences, the mood in Germany seemed to be turning increasingly in favor of letting Greece fail rather than bear the growing cost.

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Posted in * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, Foreign Relations, Germany, Greece, Politics in General, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--