The undesirability and ineffectiveness of exit from the Eurozone, and the Ponzi-like nature of continued assistance to insolvent sovereign debtors, leaves only one option: default – preferably consensual and negotiated with creditors.

The real question is the extent of collateral damage that a Euroarea-member’s default – in the form of debt restructuring – would cause, in view of the interdependence between banks and “sovereigns” both within countries at risk and across the entire area.

The fake referendum imposed by Fiat asked its workers to choose between either worse work conditions dictated by the company or the factory's de-localization abroad with their associated unemployment.