The above statement yesterday headed an article on Bloomberg News. The article was a reasoned argument for the expulsion of Greece from the European Monetary Union. It also contained the fact that even the International Monetary Fund considers Greece’s debt unsustainable, so why hold on to the illusion that it can ever be repaid in full?

Even more interesting was the table that showed the per capita exposure by country to the potential exit of Greece, as it relates to monthly income.

It would appear that only Slovakia has a greater exposure by this measure. We might be the smallest nation in the eurozone, but Malta is already paying a high price for the Greek crisis.

Despite what we are being told, its lending to Greece is proportionately among the highest in the region, with estimates putting it at between two and four per cent of the country’s GDP.