The 'conditions' being demanded on Greece are far, far worse than anything Ireland suffered, bad as that is and disastrous as it has been for the Irish economy - and for those who bite into the "Ireland is recovering well" bait, remember that one Irish person has been emigrating every six minutes; I went to a professional last week for my annual service (not annual for the last five years, though), and he said his beloved son is emigrating to London because "all his mates are there". The result is a terribly unbalanced society; during the boom 50% of people in Ireland were under 25, now it's a country of sad and wandering grey-haired people using Skype to talk to their children and grandchildren.

Here's what the IMF says on what Europe wants to do to Greece.

How will Americans feel when China calls in its debts and demands that US ports be sold, supports to the poor be slashed and banks hold on to savers' money? And if Americans object, China can say "But you thought it was fine when it was done to the Greeks!"