3. Greece looks like a bad credit. If it defaults, will Ireland, Portugal and Spain have to pay up? What if they don't, or can't?
4. What happens when Greece misses its fiscal targets, as it will?
“The reality is that unconventional monetary policy is difficult, perceived as risky, and never pursued with the vigor of conventional monetary policy.” --Paul Krugman, NYT, March 17, 2010 "Reducing policy interest rates to the zero bound fails to stimulate credit supply and demand in a ‘balance sheet recession’ in which the private sector is deleveraging." --Adair Turner, 20 May, 2013