Insolvency could unleash chaos

During the mass protests in Greece against the austerity package heavy rioting broke out in Athens and other cities. Several buildings were set alight and the police used truncheons and tear gas against the demonstrators. The scenes of unrest show what awaits Greece if it comes to an uncontrolled bankruptcy, writes the left-liberal online paper To Vima: "What we saw on Sunday points to a very a dark future indeed, similar or worse than the situation in Argentina a decade ago. Even those who favour halting interest payments and insolvency have recognised the danger. ... Uncontrolled insolvency could lead to blind violence and chaos. For that reason bankruptcy must be avoided at all cost."

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More from the press review on the subject » EU Policy, » Fiscal Policy, » Social movements, » Unrest / Riots, » Catastrophe, » Greece, » Europe
Who's saying what » Greece in dire straits, » Ways out of the debt crisis

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