What if Greece calls Germany's bluff?

Today, we're fortunate to have a guest contribution by Jeffry Frieden, Stanfield Professor of International Peace at Harvard University, and coauthor of Lost Decades: The Making of America's Debt Crisis and the Long Recovery.

Adam Stauffer submits:Recently, there have been quite a few comparisons between a Greek default and the Lehman Brothers bankruptcy -- “Is Greece the 'Next Lehman Brothers'?”, “Greek Restructuring Would Be 'Lehman Moment,' MIT's Johnso

    At the end of the day, every EU solution/bailout/ intervention hinges on whether or not Germany will write the check.   The EBC can promise this and that, but unless Germany’s signature is on the check, all of this is just posturing and verbal intervention.  

Brian Rezny submits: The collapse of Lehman Brothers (LEHMQ.PK) in September 2008 was a watershed, and in its wake, our financial system was thrown headlong into a tailspin. Lehman’s stock tanked, and so did market sentiment. The Lehman Brothers failure was the largest bankruptcy in U.S.