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Euro crisis: Just bang your head

EU leaders urge Greece to stay in euro zone. Bloomberg Businessweek urges the rest of us to crack our own skulls.
Europe headbangersEnlarge
What can headbangers teach us about the euro crisis? Plenty. (Bethany Clarke/Getty Images)

Who doesn't love a bit of good humor, especially when it's aimed at a deeply frustrating, politically intractable and potentially devastating economic problem?

So kudos to Bloomberg Businessweek and its bold "Bang Head Here" cover, which is the perfect response to what was, yet again, another frustrating week for those waiting for Europe to implode.

But first, here are today's euro crisis lowlights, if you can bear to follow.

European Union leaders are urging Greece to remain in the euro zone, while making plans to deal with a Greek exit.

Oh, and it all came with another warning from the contintent's paymasters.

Here's how German Chancellor Angela Merkel put it to Greece, sternly, as is her fashion:

"We want Greece to stay in the euro, but we insist that Greece sticks to commitments that it has agreed to," Merkel said, according to Reuters.

As for those contingency plans?

Here's a nice summation, again from Reuters:

"Three officials told Reuters the instruction to have plans in place for a Greek exit was agreed on Monday during a teleconference of the Eurogroup Working Group (EWG) - experts who work for euro zone finance ministers. The Greek finance ministry denied there was any such agreement but Belgian Finance Minister Steven Vanackere, said: 'All the contingency plans (for Greece) come back to the same thing: to be responsible as a government is to foresee even what you hope to avoid.' Two other senior EU officials confirmed the call and its contents, saying contingency planning was only sensible."

So let's see.

Debt? Check.

Discord? Check.

Despair? Check.

This is where the head banging, clearly, comes in.

http://www.globalpost.com/dispatches/globalpost-blogs/macro/euro-crisis-just-bang-your-head

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