Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

Why Austerity Doesn't Matter: Greece Is Still Going to Default

Aris Messinis | AFP | Getty Images

This is how quickly the European debt crisis devolves: Austerity, viewed by markets as saving grace for Greece just a day ago, has quickly moved into irrelevance as banks and insurers continue to find a path around default.

No doubt cutbacks are an integral part of the Greek future.