The EU's rulers have probably over-played their hand by acting in such a provocative way towards Greece. By Richard Seymour.
This loan shark says, make them pay, beat them until they pay everything, but don't beat them so hard that they can't keep paying. That loan shark says, if you don't make an example of this one, the others won't respect you Beat them to death. And it is between these two poles that the bankers, ratings agencies, and EU leaders oscillate.