Needed: a plan to avert chaos
One more piece of patchwork was applied to the European crisis yesterday as the Greek political parties attempted to form a government in the wake of an election which brought some comfort to those who want the country to remain in the eurozone but also showed the strength of a stark alternative.
Last night it appeared certain that the centre-right New Democracy could form a coalition with one or two centre-left parties.
The chances of medium-term survival for such a government are difficult to reckon. They will depend in large part on whether it can convince the people that "austerity" is preferable to a chaotic default and exit from the monetary union.