The Greeks are a proud people with a democratic tradition second to none. They have had enough of being kicked around by arrogant mid European politicians so its over to Dr Frau Merkel and Hollande and time for a little humility from that Franco Prussian pair.
Roland Rat the cartoon character leader of the keep the UK in the EU campaign has said of the Greeks ,"Let them go" but where will they go to? They might easily fall into Mr Putin's orbit a danger the US are well aware of but Merkel seems oblivious too. How many divisions do the Dranco Prussians have? Not hearly as many or as tough as Mr Putin's lot. the US are petrified of the prospect of a Russian military presence in the Med.
Merkel and Hollande are due to meet tomorrow. I do hope they will leave the ECB out of it. Its supposed to be an independent central bank. This is the acid test.
Fraser Nelson has spelt out some of the likely scenarios
I think Draghi will quietly continue to support Greek banks under some 'special' deal for a couple of weeks to allow time for the politicos to come to their senses and offer a big haircut on Greek debt. If they don't then their beloved Euro is doomed and the Russians will have the Med base they have always wanted since the days of rg Czars.