The Treaty on Stability, Coordination and Governance, which imposes austerity policies as the only possible standard, is doomed to failure and inevitably worsens the economic crisis in a Europe that is already in recession.
The latest wrinkle in the Greek financial crisis is a rush by its citizens to withdraw their savings from banks. This is both a symptom of the fear that Greece might leave the euro zone and a potential catalyst to force that exit.
Anyone reading the U.S. press last year would have assumed the Euro would be dead by now. It isn't. Here's guessing the Euro will survive the current crisis -- which would be good not just for Europeans but for the world.