Home » Posts tagged 'Greece'
Tag Archives: Greece
- Turkish Yeni Raki in Greek islands(eu.greekreporter.com)
- Cyprus votes as EU bailout looms(examiner.com)
- Turkey-Greece Business Forum to be held in Istanbul(worldbulletin.net)
I have listened to all those nay-sayers that see our rising deficit as a problem that will turn the US into another Greece….but is it possible that the US could face the same problems as Greece? In the 60′s there was a popular theory, the Domino Theory, that stated that if one country in Southeast Asia fell to Communism, they all would….this is just an update of that old belief….if Greece goes, then Spain, Ireland and Portugal will follow…and because of a global economy and the rising debt in the US…it will fall too…..
The threat that Portugal and Spain might be cut off from credit markets, triggering a meltdown in Europe’s financial system, was all too real. The rescue effort will dent the ECB’s reputation as a single-minded inflation-slayer. The insurance provided by the rescue scheme may leave countries that benefit from it a bit less minded to cut deficits and reform their economies. But those faults, real as they are, must be set against the potential costs of doing nothing.
How Greece performs will not only affect Greeks, but the value of the euro and the whole 27-nation European Union. Yes, I know, the E.U. is the world’s most opaque and boring organization. But it is actually America’s not-so-identical twin and the world’s largest economy. It is, in fact, “the United States of Europe,” and, in my view, two United States are better than one. If this one over here fractures, it will affect everything from how many exports America has in the next year to how many allies America has in the next war.