The ECB and their minions have basically threatened the Greeks with a funding cutoff on Feb 28 if they don't abide by a previous agreement to accept 7 billion dollars in bailout money.
As much as I don't like socialist's in general in this case I hope that the new Greek government stand firms and continues to refuse. The way that these central banker's in Europe along with their sorry ass leadership in Brussels and major capitals act are even worse than the U.S. fed and the current administration.
With luck this will blow the whole darn ponzi scheme up and we will finally get the reset that is required to get the markets and the world economy back in some kind of reality.
I'm well aware of the problems that can and probably will happen in conjunction with any action like this, but if not now when? The situation will only get worse as all central banks around the world do nothing but control P funny money and pray for inflation to cover up what their failed policies have brought us, both high unemployment and a system that rewards on a select few and forgets the middle class around the world. Our founding fathers at least some of them knew the dangers about having a central bank, in our case the privately run Federal Reserve. But we went ahead with the sorry ass progressive Wilson and did anyway in 1913.
Sooner or later the massive debt around the world will have to be cancelled because there is no way any austerity program will pay the bill. As the ancient used to say , burn it to the ground and salt the earth.
For an in depth look at this issue check out today Zero Hedge article, the comments are great.