Posted on 10/16/2012 9:42:26 PM PDT by bruinbirdman
Nobody in Europe is a credible military threat to anyone (except Russia). Might that change? Who knows. One thing is clear. Greece will never be free of misery unless it defaults and starts again.
Re: “Greece will never be free of misery unless it defaults and starts again.”
Agree.
No country is going to voluntarily leave the Euro Zone.
And no country is going to work harder just so it can send its surplus earnings to Germany or the EU Central Bank.
Printing your own currency and inflating your way out of debt is absurd.
It’s just a more complex and more long term way to default.
Default now, Greece!
No interest to pay, no principal to roll over.
You will have to borrow short term at very high rates to keep your banks liquid and your government functioning.
But in a year in two, tax receipts will equal government spending, and yes, you can start again.
The Kaiser and German Government were looking to achieve global domination: they were extremely happy to launch WW1.
When they invaded Belgium the Germans threatened to take control of the Scheldt and so gain the ability to amass an invasion fleet.
The Scheldt (easily as strategically significant in its way as the Golan heights, the Rhine or the island of Okinawa) is the key reason why Belgian neutrality was guaranteed by Britain in the first place, and why the invasion of Belgium forced Britain into the war.
Four years later the Germans were starved into signing the Armistice by the naval blockade. But twenty years later they were at it again with the same mad dream of conquest.
Isn’t it a real belly laugh that the EU just won a Nobel?
Such is the hubris of the elites.
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