WHO WON? GERMANY OR GREECE?

The press is awash in articles and commentaries proclaiming that Greece has been humiliated and that Germany has won.

But that assessment depends on the -erroneous- assumption that the Greeks will eventually pay.

They can't and they won't.

So who won?

RELIAPUNDIT ADDS:

The banks who held Greek paper got bailed out; they won. The European taxpayers have lost. And anyone who likes democracy.