A New Classic Tragedy or A Remake Of A Homeric Tale
Each day, the headlines drag on this New Greek Tragedy. Homer many centuries ago wrote a true Greek Tragedy, 
still famous today, he poem mainly centers on the Greek hero Odysseus (or Ulysses, as he was known in Roman myths) and his journey home after the fall of Troy. It takes Odysseus ten years to reach Ithaca after the ten-year Trojan War.In his absence, it is assumed he has died, and his wife Penelope and son Telemachus must deal with a group of unruly suitors who compete for Penelope’s hand in marriage.
Are these the events we are following today in a new modern version of an old classic? Does the hero die in the end, or fall madly in love.
What roles do we see for Merkel and Sarkozy? Where does ECB and the IMF, fit into the saga.
All I know is that we have enough, characters, actor, plots and subplots, subterfuge and mystery, to make a hit movie. Although I am sure Hollywood, or is it Bollywood that is already producing the wide screen version, ready to be released with multiple endings.
I know I for one went to bed last evening with the peace of mind that Greek Prime Minister, Lucas Papademos, promised that there would be a 
completed deal by the end of Sunday.
Greek leaders have been trying to convince leaders of the three parties backing the government that more austerity measures are needed if Greece is to receive a second international bailout package. The talks have been delayed until Tuesday to allow the premier to meet with international creditors, according to reports. What good will all this due, when they have been meeting for months?
Greece failed to agree on new austerity measures across political parties over the weekend, a requirement for the proposed bailout to avoid default in March. There was some progress on bank recapitalization. There cannot be a new program for Greece unless the conditions of the troika are met,” Merkel said at a joint press conference here with Sarkozy, referring to the European Commission, the International Monetary Fund and the European Central Bank.
Leaders were resisting calls for implementing additional wage cuts in the private sector.
Greece must satisfy the so-called “troika” of creditors, the EU, the IMF and the ECB in order to receive a second bailout of 130 billion euros ($170.6 billion) that was agreed to in principle last year. Without the aid, Greece is seen as certain to miss a March debt repayment, putting the country into outright default.
As each day passes it become less and less possible for Greece to survive. Investors and Economists alike are now viewing this as a default, there is no longer the idea of a voluntary settlement, regardless of the name, and it is simply an organized or disorganized default.
In the global view, Merkel and Sarkozy have thrown up their hands; they should have done these months ago.
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