What are you supposed to say when the simple fact is that Spain and Italy are, and always were, too big to save? It is unthinkable that we have allowed this madness to go so far. The Grexit chicken licken coverage trying to place responsibility for the world’s failure at Greece’s door didn’t do it in time, there is no tiny domino to be scapegoated for what is unfolding.
This is probably cold comfort to those in Greece. I imagine the unfolding details of the damage that has been done to the their society will provide the emotive footage for our grandchildren as they wonder how we were rendered so blind. I don’t know what is now to happen in Greece, but it is a country with a history of deeply felt destructive and corrupt left/right tribalist politics, a deeply corrupt media around which their politics can orbit, and they have far right parties in parliament, and a political class willing to demonise the poorest in obscene and dangerous ways. They haven’t even taken the baby steps towards picking off the bloodsuckers and face a long road with the potential for many catastrophes. At least there is a road for now.
History will not remember this period well.