Every world citizen should give thanks to the citizens of Greece, who followed the advice of Kratos, protagonist of Sony Santa Monica's magnificent God of War franchise, and refused to accept the malign dominion of Zeus -- a.k.a. Euroliberalism.
The credit markets of Europe's smaller Mediterranean nations have been getting hammered by bond traders in recent days. But the EU is not a small player in the world economy. It is a behemoth with a 16 trillion annual GDP, the largest single economy on the planet. Just like the BRIC nations, which have vast financial resources and fundamentally sound economies, Europe can defend itself against speculators. The only question was whether it had the political will.
This question has been answered. At long last, the EU rolled out the trillion-dollar bailout package they should've instituted long ago.
This isn't the end of the story. The people of Greece have opened the Pandora's box of transnational democracy: the faint, flickering and yet ineradicable hope for a different and better world is now alight, from the streets of Athens to the forests of Orissa, and from the tenements of Rio de Janeiro to the apartment blocks of Moscow.
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