Actually the bankers to whom I speak would disagree with this analysis of Greece's fiscal difficulties.

BBC: Greece: Euro exit delayed?

Eighty-four percent of cities are reporting fiscal difficulties, the highest percentage since the group started doing surveys in 1985.

CNN: Obama shines stimulus spotlight on urban economy

The problems of fiscal deficits generally and Euro zone difficulties in particular are likely to act as a drag on business prospects for companies in the period ahead, especially if the growth markets are affected.

FORBES: Richemont Reports Widespread Sales Growth but Cautions on Future Profits

Recent Spanish difficulties, including slower growth and disappointing progress on fiscal goals, suggest that this ugly scenario is becoming more likely.

ECONOMIST: The world economy