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It appears that the birthplace of democracy is showing the way again. The journey ahead will be painful, but to stop kicking the can down the road may be the best thing in the long run.

I am sure Spain is watching this very closely. The same for Italy. Larger economies, but still teetering on the edge.

Then there is Mr. Putin. Will he step in to save a leftist government and increase his influence in Europe? That will drive the other European nations up the wall.

We certainly live in interesting times.