Greece and the Rise of Nationalism in Europe and East vs West

"Here’s the clip from yesterday afternoon’s Capital Account with Lauren Lyster. I am on as a guest in the first part, talking about Europe. If you have been reading Credit Writedowns for the past few months, then nothing I said here was really news.
I am not particularly shocked or worried about the cancelled European finance ministers meeting. I still think this bailout gets done because Europe and the markets are not prepared for a disorderly default and politicians cannot risk the fallout one would create. Where my concern lies is the medium to longer-term. The austerity approach has created a depression in the periphery, with Greece being the hardest hit. Eventually this will lead to political extremism and nationalism..."

at http://www.creditwritedowns.com/2012/02/greece-and-the-rise-of-nationalism-in-europe-and-east-vs-west.html