The Collapse Of Greece

I Fear For A Social Explosion: Greeks Can't Take Any More Punishment -- The Guardian

Helena Smith, who has reported from Athens for more than 20 years, says the country is on the edge of a precipice.

Despair has enveloped Greece. This weekend the bankrupt nation, for that is what it is, began negotiating the latest act of a drama that many fear will end in catastrophe – financially, socially and politically.

In an electric atmosphere, with thousands demonstrating outside parliament, MPs began debating the arduous terms of a €130bn (£110bn) rescue package that the interim prime minister, Lucas Papademos, insists is the only way left to avert economic collapse.

"A disorderly default," he said, referring to the 20 March deadline that Greece faces of repaying €14.5bn in maturing debt, "would plunge our country in a disastrous adventure. It would create conditions of uncontrolled economic chaos and social explosion."

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My Comment: Concerns that A Greek default will have on Europe is finally sinking in .... here is the worse case scenario.