Greece is balking at surrendering its sovereignty as the Merkel-led European elite is shouting for more austerity from the “profligates” in an effort to insure the large continental banks against the ravages of default. As one reader e-mailed today, IT IS AS IF THE GERMANS ARE PLACING THE ENTIRE NATION OF GREECE INTO DEBTORS PRISON. Life was much easier when a country could send in its gunboats to collect its loans.