greece looks like hopeless case., page-17

Let's simplify the whole Greece thing.

They (the government) have over borrowed.

They have given away the ownership of some of their future income producing assets eg Athens Airport to American merchant banks (hence the big bonuses to be paid)

The IMF will help them out this year and will basically run the country.

The Greeks will revolt against any change to their comfy national perks.

There will be mass protests (against what I don't know)

The Greek government will ultimately declare bankruptcy.

Now onto Portugal...........