Dip, dip, my little ship
It's in the hands of all the powers to really screw things up in the economics of the world.
Greece is in an impossible situation, made worse, we sense, because they have been put into the eye of the storm. Things can only get worse if allowed to fester. Should they have been in the eurozone in the first place? Probably yes, but they shouldn't have started from where they did, as they say in Ireland. And they are not alone.
We will keep on saying it, economics is a force of nature, and if you cheat with it, you cannot stop the consequences.
If we argue that some euro member countries were massaged to fit, presumably when Brussels thought that the economic gods were looking the other way, then we all must know that there will be denoument.
That said, it's no good pretending that it can all be made better if we just say it's OK. Dissembling politics will not hold back the deluge.
Our advice to the powers is to assume the worst and do what you have to. Worried about your voters? Don't be because the die is cast; better to go out, or be praised, with a stick in your hand and your boots on.
Greece and Italy today, there may be more tomorrow, and so on. Ultimately, there is not enough money in the world to bail everyone out, what with that and pensions.
It may simply be better to discard the euro in some territories because, unless you have a German economy, or something equally beefy, you will always be chasing.
Just to add a little proof to the latter, reports suggest that the UK's DPM, Mr Clegg, can still envisage the UK joining. We don't know whether to laugh or cry.