Our leaders must find a solution to debt crisis

AS I type this, the emergency summit meeting in Europe to finally/hopefully take meaningful steps to resolve the euro crisis, is just starting.

However, the augers are not good. The biggest elephant in the room is the Greek economy which is very quickly heading for oblivion. A major plank for the resolution of the Greek problem was a radical write down of Greek debt by having its international bankers voluntarily write off 60% or even more of that debt.

Why politicians would think that bankers would play ball is anybody’s guess. When did the financial services industry do anything other than for itself and those who hold its levers of power?