Europe is playing for time. It's struggling to delay any Greek default long enough for other vulnerable countries to demonstrate they can handle their debts.Here's where it seems relatively simple to me, but isn't addressed in 99.99% of the pieces I read on the topic. There are two questions to ask, ones that are independent of scale. That is, they can be asked of your 10-year-old daughter, a corporate CEO or the head of a country.
- What are you going to do that people will be willing to pay for?
- How will you service your debts?
The more I read both theology and economics, the more I become convinced that we're living at the end of an age of denial.