June 20th, 2012
02:42 PM GMT
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(CNN) - Now that the Greek people have voted and a government will be formed, we need to think about where this crisis will go.

The new Greek government will invariably go to Brussels and ask for some relief; breathing space is the phrase that will be used.

The Europeans will almost certainly grant it - to not do so would be cruel, especially bearing in mind the terrible suffering of people in Greece at the moment.

But outside of Greece what happens now?  Like a balloon that is squeezed, the European crises merely bulge out somewhere else - and that is what is happening now. FULL POST

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