The Financial Times Gets it Right on Greece

Check this link out (if you can)

http://www.ft.com/intl/cms/s/0/86d3d470-5bb8-11e1-a447-00144feabdc0.html#axzz1n5UR8lcr

Basically, Gregorz Kolodko, a former Finance Minister of Poland, argues that the ECB has the capacity and the policy obligation to buy Greek debt and stave off the crisis. His argument makes sense given the parameters of the Greek tax base and the inevitability of default otherwise, as he lays out.

Plus any expansionary action on the part of the ECB would be good action at this juncture.