An old proverb dating back to the Trojan War tells us to "beware of Greeks bearing gifts."
Today, with the fate of the European euro and perhaps even the entire Eurozone region hanging in the balance – and Greece needing a bailout to avoid default on its massive public debt – a more-appropriate warning might be: "Beware of Greeks seeking gifts."
Unfortunately, European finance ministers are looking at a bailout proposal that would amount to little more than an outright gift.
And it's a gift that – in my opinion – should never be given.
To understand the risks posed by a bailout-plan for Greece, please read on.