"On the current path - which is not sustainable in my view - we may very well see Greek GDP go down 25-30 percent, which would be historically unprecedented. It's a disastrous crisis for them," Dadush, a former senior World Bank official, said.
And in order to make sure banks bail out banks, the people will suffer:
For ordinary Greeks, the outlook is dire. Some civil servants have seen their salaries cut by half. Retirement before the age of 65 is a fading dream for those still in work. Some drugs are now in short supply.About the only thing collapsing faster than Greece's economy are the popularity ratings of Republican candidates. In fact they are cratering so fast, it may lead to the most renowned of the previously collapsed getting involved, that's right Sarah Palin says she's ready to answer the call of the wild if it's made at a brokered convention.
Opa! [Cross-posted at Firedoglake]