David F. Ruccio — Trust this!

If anything, the Greek people are the ones who have learned they can’t trust the governments in power in the rest of Europe to do anything other than extract an enormous tribute—in the form of “extensive mental waterboarding” and continued austerity measures—in order to come up with the necessary funds to restore the banking system and give the country some breathing room.

As a have said many times in the comments, "loss of trust" means that Greece must "regain trust" by foregoing sovereign rule that marginalizes the "leftist" government,

• making draconian cuts to social spending, 
• shrinking government, 
• undercutting labor bargaining power, 
• and privatizing public assets. 

Then after "trust" has been resorted, a relief package may be considered, but not before.

This is economic and financial warfare. The choice is either to agree or be destroyed economically and financially.

Now it is becoming clear what the EZ is really about behind the façade of integration. It's just another naked power grab.

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Trust this!
David F. Ruccio | Professor of Economics University of Notre Dame Notre Dame