Greece, not again?

[admin]

Greek Finance Minister Yanis Varoufakis on Wednesday had his first Eurogroup meeting, with the focus entirely on his country. Nothing official has emerged, but according to one report, a statement was within minutes of being agreed upon before it was torpedoed by Athens.

Europe's finance ministers very nearly agreed to this provisional deal on Greece - Business Insider

Perhaps governmental intervention sounds very familiar. Perhaps the recently announced quantitative easing program for €1 trillion announced by the European Central Bank sounds familiar as well. Europe is taking a page out of the United States' playbook. Citigroup and AIG were too big to fail and the US government stepped in. Fannie Mae, Freddie Mac, General Motors and Chrysler were too big to fail and the US government stepped in. Like these examples, Greece is too big to fail and the European Union will step in as well.

Greece is simply 'too big to fail'—commentary