Apocalypse now

In response to the political impasse in Greece, Angela Merkel has issued a statement saying that unless Greece sticks to the terms of its 'bail out' darkness will fall across the earth, famine will stalk the land and vicious creatures, half-human and half-wolf, will roam the streets baying for blood. Mothers will eat their own babies, the ground will open and swallow whole cities whilst the Euro will be no more. A leading member of the Bundestag also warns that the tooth fairy will no longer visit Greek children.

In the meantime, Paul Mason talks some sense:

So we are back to the same problem that has dogged Greece. It cannot stay in the Euro without abiding by the rules. And the rules, as currently designed, will force the economy into a downward spiral and destroy social cohesion. Unless the EU/IMF take some kind of initiative that allows some form of viable coalition to emerge to implement some kind of "Plan B" you will sooner-or-later have a debtor-led default on your hands and most likely a prolonged social conflict.