Our Big Fat Greek Time Bomb

—By

| Wed Apr. 20, 2011 10:46 AM PDT

Greece has no realistic chance of ever paying its external debt. So it needs to default restructure. But if it restructures, German and French banks are screwed. What to do?

Answer: dither some more. But dithering won't help. Greece is a time bomb waiting to go off, and it doesn't look like there's any realistic hope of defusing it.

Get Mother Jones by Email - Free. Like what you're reading? Get the best of MoJo three times a week.

Advertisement

 

Photo Essays + Slideshows

kids smoking

Glamorous Photos of Kids Smoking

Frieke Janssens' images of kids and (fake!) cigarettes capture the ugliness and the not-quite-bygone glamour of smoking.

Slideshow: "Enjoy an Ice Cream Cone Shortly Before Lunch"

10 classic ads from the sugar and cereal industries.

Portraits of Addiction

A Manhattan banker shoots portraits of drug abuse, sex work, and homelessness in the Bronx.

Garry Winogrand, John F. Kennedy, Democratic National Convention, Los Angeles, 1

Never Before Seen Photos From Legendary Street Photographer Garry Winogrand

Fourteen amazing scenes of life in America—and hundreds more where that came from.

See All