Krugman on Greece, the Euro, and the Lesson to be Derived Therefrom

Krugman explains what the hell is going on with Greece, and why it matters to us.

So is the euro itself in danger? In a word, yes. If European leaders don’t start acting much more forcefully, providing Greece with enough help to avoid the worst, a chain reaction that starts with a Greek default and ends up wreaking much wider havoc looks all too possible.