Stratfor’s view of the financial crisis in Europe
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What Greece needs right at this moment is for the government to collapse and be forced to default on its debts. Such an outcome is more than possible within the compass of an embattled capitalist democracy, short of socialist revolution. It could happen within a very short space of time. The only thing that’s holding this government up is the backing of the EU powers – which means they aren’t under enough pressure from their people.
What Greece needs right at this moment is for the government to collapse and be forced to default on its debts.
I completely agree. There is no negotiating possible with this regime and overthrowing it is the only option.
It does indeed look like a game of chess where every move ends up in checkmate and you’re only option is between loosing in three moves or five or six. I guess I’m not surprised EU is choosing six.
Of Course, Robert and you are correct. Any government looking for the best interests of it’s public would have defaulted long ago.
That is not an easy option as Argentina and Iceland will tell you. But after a year or two of pain and chaos, they got on their feet again. A lot better then the slow agonizing death the EU seeks for Greece.
Not so simple. Unlike Iceland, which defaulted on the debt of its nationalized banks, but was otherwise sound, Greece has a very large government budget deficit, probably in excess of 20% of the actual budget. If Greece went cold turkey and defaulted, it would be forced to enact the draconian measures it now resists. Plus it would wipe out its own banks and millions would lose their savings.Greece has an Alice in Wonderland economy where one person in six works for the government, yet there are areas of the country that don’t even have a land registry…
Apart from default, Greece should also abandon the euro, which caused great damage to their economy.
All countries that defaulted in the last 15 years recovered their economies quite fast: Malaysia, Indonesia (1997), Russia (1998), Argentina (2002). The horrible outcome that was predicted for them didn’t come true. And all except Argentina now even have quite low country risk ratings. A lesson that Greece should learn.
@VINEYARDSUCKER
Egypt’s “Uprising” was staged, organised and controlled from the start by the US/Britain/Soros Optor lead colour revolution regime which I assumed as it brought the Muslim Brotherhood to the foreground and like always pogroms and massacres of Christians.
http://www.youtube.com/watch?v=mBqBSrrTyzo
Mr Walberg ironically seeming to have no real insights about Russia and sounding like a left leaning Neocon remarked that Russian Muslim population or the population at large would be inspired by the colour revolutions which I and apparently the Kremlin knows is a tactic like Yugoslavia and now Syria to dismantle Russia.
“An uneasy situation has emerged in Arab world, shattered by revolutions; its further destabilization can break several countries into small pieces. This is the scenario they’ve prepared for us and now they will try even harder to bring it life. But it will never happen anyway.”
-Dmitry Medvedev, Vladikavkaz, North Ossetia, 22th of February 2011
Mayor US foreign policy think tank CSIS issued a publication evaluating the possible implications it could have on Russia.
http://csis.org/publication/what-does-arab-spring-mean-russia-central-asia-and-caucasus
Time to return to Christ Saker.