I agree with Plough that what Australia is missing is a strategic approach to development. For instance, it was good to pump money into the economy in 2008, but much better if it went towards strategic infrastructure goals.
With regards to Greece, I think there is blame on both sides long term. Short term the Syriza party has been disastrous. I agree with the observers that believe that the Finance Minister thought he had the world by the short and curlies. Spin out the negotiations, manufacture a new crisis every few months to affect world markets and game theory dictates that domestic pressure will make world leaders seek a political solution on his terms.
He put the gun to Greece's head one too many times though. This week the markets realised the world won't end if Greece collapses and he lost his major bargaining chip. He's screwed, Syriza is screwed and they have done more damage to Greece in six months than other incompetent governments have done in a decade.
