Beware of Greeks Bearing Debt
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  • There seems an assumption that Greece would ask for permission to leave. Greece’s total failure to abide by the debt-GDP obligations of the EU treaty would rather seem to indicate that she’ll do whatever she wants.

  • Corlyss

    Let us all now praise famously preening NGOs like the EU and the UN. They are going to save us all, it says here in the mission statements.

  • Sturt

    I can’t see how Bremmer gets to his conclusions – he’s overdramatizing the worst case scenario. The EU Customs Union is separate from the monetary union, so they wouldn’t reimpose tariffs on Greece’s separate currency. And regional funds are also separately determined. If you wanted to GUARANTEE a chain of contagion, then yes, the EU countries should try to undermine Greece’s chances of success outside the Euro. But if Greece exiting the Euro is the only step to limit German and French bondholders’ losses, they will get there, but only after trying everything else first.

  • rvastar

    “The best way to destroy the capitalist system is to debauch the currency.” – Vladimir Lenin

    Mission (almost) accomplished.

  • Peter

    Mr. Mead this four minute clip is one of the best analyses on the Greek problem I’ve seen.

    It shows why Greece can’t prosper — and actually never did. It’s standard of living has always been artifically high due to massive infusion of outside money that the Greeks would never have to pay back.

    Germany & France were fools to allow Greece into their club as a full member, and now they’re going to have to pay big bucks to throw the freeloader out.

    The video clip is from from Startfor.

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