Greece is on a Fast Track Out of the Euro!

• Greece is on a fast track out of the euro! 
  by Jeremy Warner, http://www.telegraph.co.uk/ , 14 Feb 2015
  Is a Grexit fair punishment for Europe’s stubbornness?
  As the Greek debt stand-off trundles towards its latest denouement – when it comes to the permanent crisis of the eurozone, experience has taught me never to use the term “final denouement” – predictions are becoming easier to make.
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  One is that some sort of a deal will eventually be reached that kicks the problem a little bit further down the road, if not at tomorrow’s meeting of eurogroup finance ministers, then at some stage over the next six weeks or so.
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  For this to happen, the Greek government will first have to accept an extension of the current bail-out terms, something it has said it will not do.
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  Even so, some face-saving form of words can no doubt be cobbled together. If this doesn’t happen, then Greece will soon run out of money and is on a fast track out of the euro.
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  The second prediction concerns the chances of a wider settlement that eases the burden of austerity and leads to a degree of debt forgiveness, in practice if not name.
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  The injustice of the original Greek bail-out is not in doubt and therefore makes a strong moral case for cutting Greece some slack; all the same, even minor concessions put the eurozone on what Germany regards as very slippery slope. 
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  read more!

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