There are only ten million Greeks in Greece.
The biggest problem in Greece is that the Greeks don't pay their taxes.
Government that bases expenditures on taxes they know they will not collect is effectively "taxing" their non tax paying citizens by printing ever more worthless money.
Locked to the Euro the Greeks have had to shut down their printing presses. As a result they cannot "inflate" their way out of their debt, or even their debt service.
Game theory at this point leaves the new Greek government no good choice other than to keep stalling as long as possible.
Today they are in a lost situation and the losses and damages are compounding.
Debt relief from their creditors seems the only possible option at this point in time, as it seems obvious to the market that they are already in default.
The European Union has to step up to the plate and help Greece.
Angela Merkel has to take decisive action that helps Greece and fortifies the Euro.
It seems as if the German taxpayers are going to continue to subsidize their EU partners,
| 