Greece: a "new wave" of crisis?
The Greek government could run out of money to pay its bills in the next couple of months. Usually governments are guaranteed at least to be able to pay their bills inside their own countries — because, in the last resort, they can always print more of their national money — but the Greek government, in the eurozone, has no power to print more euros. Immediately, the result is promises by Greece's social-democratic government that it will make huge cuts in public spending to free up cash to pay the international financiers to whom Greece has debts. At present Greek prime minister George...