Home > Uncategorized > Losing patience with Greece

Losing patience with Greece

HADDAD_greece_0I can’t help thinking that this weekend signaled the beginning of the end for the euro. The
Greek prime minister does of course have a mandate for the stance he is taking but equally the tone is going to grate right across europe. Quite difficult to see how the northern european electorates are going to take to further cash for Greece to rehire “public sector workers that were illegally fired”.

http://www.bbc.co.uk/news/world-europe-31261475

This can only produce one result. Alan Greenspan elucidates the thoughts of many.

“The problem is that there there is no way that I can conceive of the euro of continuing, unless and until all of the members of eurozone become politically integrated – actually even just fiscally integrated won’t do it.”

Frankly I despise Greeces stance. The euro is in my opinion a failed concept but whilst a large proportion of the blame will lie with the incompetent management of the whole structure, Greece is a disgrace in its denial and arrogance.

So what will be the effect of the exit of Greece? This piece gives a good indication with four economists spelling out the dangers. It does not make for comfortable reading

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