European Debt Crisis in three acts

The Online English Edition of Der Spiegel has a brilliant analysis of the European debt crisis that is not to be missed.

Read “The Ticking Euro Bomb” (October 5-7, no rx 2011):

Act I:

Part 1, advice Section 1:  “How a good idea became a tragedy”:,1518,790138,00.html

Part 1, Section 2:  “The Greeks jump at the opportunity”:,1518,790138-2,00.html

Part 1, Section 3:  “The critics of the Euro”:,1518,790138-3,00.html

Act II:  Life with the Euro (2001 – 2008):

Part 2, Section 1: “How the Euro Zone ignored its own rules”:,1518,790333,00.html

Part 2, Section 2:  “The Greek deception is discovered”:,1518,790333-2,00.html

Act III:

Part 3, Section 1:  What options are left for the common currency?,1518,790568,00.html

Part 3, Section 2:  Greece adrift,1518,790568-2,00.html

Part 3, Section 3:  Design defects, political weakness, public disinterest,1518,790568-3,00.html

Part 3, Section 4:  Are European rescue efforts doomed to fail?,1518,790568-4,00.html

Prolonging the Agony: Europe’s Sovereign Debt Crisis

When will the senior political and financial leaders in European countries come to their senses? When will they concede that their current policies to contain the debt crisis are not working and cannot be made to work? How long are they going to prolong the agony of waiting for the next wave of contagion to strike?

Prolonging the Agony