   The sinking euro  Denial and delusion in Brussels, as the
single currency founders  See article  Readers' comments   Der
Perfesser  "..perhaps stoking inflation..."  For the ECB to buy
bonds it will have to print money, by the hundreds of billions.
The outcome will be far worse than a universal Euro bond
default. It will be hyperinflation.  Defaults can be lived
through. All they affect are the investors, mainly the banks.
There will be few other adverse economic consequences. No break
up of the Euro zone. No (or not much) panic. Business, trade,
and the economy will function just as well the next day.  Yes,
certain banks may need to be supported, not compensated, so that
they will stay open. That is all.  A default is just the
consequences of a bad business decision. Unexpected maybe, but
given the recent events, still a bad business decision. History
is replete with defaults by nations. Nothing much bad happens.
It is business as usual next day. Indeed things often improve,
as the government concerned i