Bankruptcies are the emergency rooms of the financial system. A financial system which relies on regularly having large cascades of bankruptcies to cope with elementary design flaws like the Grief and Stupidity Pact is going to be expensive and messy and will produce greatly inferior results compared to fixing the actual problem. Which is that members have no sustainable way to defend against inadequate inflation other member states.

- Jake

Friends come and go. Enemies accumulate.