Greece and the Welfare State in Ruins
"WASHINGTON -- It would be possible in other circumstances to disregard the ongoing story ofGreece and its debts as a tedious tale of financial markets. But there's much more to it than that. What's happening in Greece speaks to two larger issues affecting hundreds of millions of people everywhere: the future of the welfare state and the fate of Europe's single currency -- the euro. The meaning of Greece transcends high finance."
Don't worry - Greece is the first of many, the death spiral comes for us, too.
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