The EU's collective austerity programme will do little or nothing to save the problem countries - Ireland, Greece, Portugal and Spain - from default and the rescue fund set up by the IMF and the ECB will only buy time before they do so. Richard Douthwaite argues that a limited, targeted injection of non-debt-based euros could provide a neat and swift solution to a debt problem the whole eurozone shares.
Who says the West is Dead? While Dubliner sophisticates moan about the cuts, their country cousins have taken to action even if it is just marching down the street. They have also taken to counting the costs of the bond holder bailout on a new facebook site. See this article by the excellent Namawinelake.