Borrowing Money We Don't Have To Give To People Who Cannot Repay — Then We Go Broke Too

David McWilliams, in this week’s Sunday Business Post column, says a Greek sovereign default is imminent. As I noted here last week, both he and MIT economist, Simon Johnson, said the EU bailout plan would not fix Greece’s woes. Last week, Daniel Gros wrote something similar in the Financial Times. Confidence in Greece is just…