The Euro: Let the fun begin

By | May 8, 2012
This is phenomenal – in my view, more so than the web community stopping ACTA and SOPA. See, both are the voice of the citizens reaching government. But while ACTA and SOPA are a signal to the government 'don't pass this, otherwise go on with business as usual', the Greek vote is a signal to the government 'don't pass this and care about the citizens – no more business as usual'.

If Greece does follow through and tear up the loan agreements, I think we're also seeing a key event marking start of a financial revolution here. This has been foreshadowed by the oil deals of Iran, China, India, and Russia – starting the fall of the petrodollar. What we're about to see is not just the potential collapse of the Euro, but also a signal to the banking industry that their tighthold on government has been broken. And that is where the significance of the Greek election, in terms of the financial industry, lies.

/via +suhail mansoor 

http://m.guardian.co.uk/world/2012/may/08/erozone-crisis-greek-bailout-deal?cat=world&type=article
The signing of the loan had not been “a salvation but a tragedy”, insisted Tsipras, who at 38 is Greece’s youngest frontline politician. New Democracy and Pasok, the two parties that sig…

3 thoughts on “The Euro: Let the fun begin

  1. Abhi Kris

    +Christof Jans but also the softest landing is the one with the highest ego hurt. I'm not sure Greeks are as yet willing to accept second class citizenship in the Euro zone. This is exactly what's going to happen if they continue toward the bailout soft landing. There doesn't seem to be any way of creating austerity measures that stick in greece.

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  2. Christof Jans

    Austerity will be forced on Greece one way or the other. It will either happen within the framework of the bailout deal. Or – if the Euro falls – the drachma will devalue so much that austerity will come that way.

    For Greece, the relatively soft landing of the bailout deal is by far the most favorable option.

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