David Fuller's view If you run a business badly and overload on debt you will eventually go bust. In essence capital has been misdirected and money looking for a new home will go elsewhere in search of a profit. This is how capitalism works but it is getting a lot of bad press because of investment banking greed, compounded by central bank and government "financial socialism".

"To each according to his needs," was never meant to apply to bankrupt finance houses or economies. History is replete with failed institutions, debt defaults and currency devaluations, but the world has continued to spin on its axis. "Too big to fail," has come under pressure with suggestions that financial institutions should be "downsized" yet there is enough in the kitty -for the time being - to bailout the Greeks.

Don't think for a minute that the European crisis is over. This is just the "end of the beginning." Greece will default. Based on some heroic assumptions of GDP growth their current debt to GDP number of 133% will rise to 149% in 2013 falling back to a mere 143% in 2014! The bailout has been put together to save the euro; not Greece.