European leaders over strategies to bail out debt-stricken economies and

strengthen the banking system? Should Greece default on its debts and

quit the European Monetary Union to contain political and social unrest,

the contagion effect looks set to be global. Those who believe the

Greeks should be left to go it alone fail to understand the wider

punishing effects, warns Wolfgang Buehler, a professor at the Australian

School of Business who has extensively analysed the crisis. While the

fallout may be dire for European unity and international trade, in its

bitter lessons are clues for a better way forward.