Editorial, The Independent | June 30, 2011
It is still far from clear how the Greek saga will conclude. ++ The adoption of the austerity package sparked riots and sharpened the question of whether “the increasingly rebellious Greek public” is ready to meet the severe cuts. ++ In case of a default the country is likely to be excluded from the eurozone and markets’ attention would switch to the next “weakest link”– Spain. ++ The example of Ireland which accepted four austerity budgets in a two-year period and yet continued its negative growth only strengthens Greek scepticism.