Using the Nuclear Option in the Face of Protests

Jean-Claude Trichet, head of the European Central Bank (their version of the Fed), is denying that they're considering deploying the nuclear option. That's where they print buckets and buckets of Euros and pay off various national debts with them. Well, whatever he wants to say, that's where this is all heading. Greece certainly can't pay for all of the compassion™ it's bought over the years, nor can Portugal, Spain or Italy. In the absence of buying debt, they're going to have to end up kicking the weaker states out of the EU and printing buckets and buckets of Euros to rescue the banks who were stupid enough to lend money to those countries when it was obvious they could never pay it back.

Either way, the nuclear option will be deployed.

Here we see a rational, well-considered opinion piece by Greek socialists.