The Greek rescue package

Peter Boone and Simon Johnson serve up the bottom line.  Here is one good excerpt of many:

Often assistance packages of this nature just help “smart money” to get out ahead of a default.  This could be the case here; 40-45 billion euros total money could last roughly one year.  Both Russia and Argentina got large packages in the late 1990s but never regained access to private markets, so eventually everything fell apart.