Tag Archives: Greece

More fallout from the Greece situation:

Tommaso Padoa-Schioppa, a former European Central Bank executive board member and Italian finance minister, said today there was no possibility of a partition of the euro-zone.

“I don’t think there is any prospect for such an event and I don’t think it makes much sense to talk about it,” he said in an interview on Bloomberg Television.

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You may or may not be aware, but Greece is on the edge of a complete economic collapse. The problem is that the more prosperous European Union countries don’t want to ride to the rescue of their unfortunate neighbors:

But the Europeans are not being careful – and it’s not just about Greece any more. Worries about government debt and associated public sector liabilities (e.g., because banking systems are in deep trouble) have spread through the eurozone to Spain and Portugal. Ireland and Italy are next up for hostile reconsideration by the markets, and the UK may not be far behind.

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