Greek in Plain English: To Bailout or Not to Bailout

In the next few weeks we will be hearing a lot about sovereign debt crisis for Greece.  Debt crisis is derivatives crisis. Derivatives are Greek – a lot of Greek! I found this simple chart at Zero-Hedge and it explains the ramifications in a decision tree, and in simple English.

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I am a professor by trade and 100% pure Gongura Gulute by birth. I believe in “survival of the fittest” mantra, but my philosophy is to “live and let live.” Therefore, I am at neither extremes of the political spectrum. I am an independent and I love it that way.