The election in Greece will be the judgment day on how Europe will survive long-term.Greece has been bailed out with €240bn from the EU, the ECB and the IMF. But the economy has shrunk by 25%, unprecedented in the modern era. Why? Because these morons just have NEVER understood currency and capital flows. Converting the pre-Euro Greek Debt to euros that doubled, caused their national debt to double in “real” terms and then they suddenly have seen their economy strip-mined. If the Greeks do not pull out of the Euro, we will see civil war erupt there by 2017. Samaras has essentially followed the script of the so-called Troika; the EU, the IMF and the ECB. This has proven to be BRAIN-DEAD and Europe is facing Judgment Day on a grand scale not seen since World War II. This is perhaps the greatest fiasco in modern history of the worst possible fiscal mismanagement in recorded history. Thus, the Euro is at risk of extinction long-term as it will promote separatism and civil war. This is not personal OPINION, this is the correlation of history. Sorry – Europe is going down in flames because of crazy lawyers and academics who do not know the first thing about running an economy. - Martin Armstrong- Armstrong Economics
Posted on: Sun, 25 Jan 2015 00:22:09 +0000
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