The Greek bailout won't work

When the Greek bailout fails it will create a snowball effect that will unravel the European monetary union.

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Bruce Sabell,

The Greek economy is a train wreck, in order to cut the required spending Greece will fall into a very deep recession, with falling taxation high unemployment more welfare. They are going to find it impossible to maintain their economy meet their existing debt and the answer is more debt. How can this plan work commonsense tells you it can not. Now the rest of Europe who are in as bad a shape as it is will be dragged down even further how has this problem been fixed it's getting worse. They will have to default and thats what the market is telling us.