Everyone is now focusing on Spain and/or Portugal now as the "next domino" to fall, but in fact the "solved problem" that is Greece keeps on rearing its ugly little head. Last week the European commission published a 195 page paper detailing most of these facts ( the second economic adjustment programme for Greece , march 2012). Pay special attention to page 55 (where most of the juice lay). In mid March the Greek government was so broke that it raided the bank account of the 6 largest Greek University, a public utility and other government controlled entities; the result now the six universities have to close because they cheques (like salaries) have begun to bounce -- the accounts were emptied to the tune of Euro 1.7 billion, so that the Greek government could make whole a sovereign owned bond payment. The reason is that although Greece was scheduled to receive Euro 74 billion on March 20th it only got Euro 7.5 billion. N...