By John Galt
October 23, 2011 – 17:55 ET
From SkyNews this afternoon:
Thankfully they do not have a nuke plant on a major earthquake fault (do they?).
The article by Robert Nisbet says it all in this quote:
The Prime Minister of Greece has said the very “existence of Europe” is at risk from the debt crisis.
After some intense reflection, the collapse of Rome did not destroy Europe, World Wars I & II, did not destroy Europe, and porn stars being elected in Italy did not destroy Europe. The Prime Minister of Greece took the Obamanian route by stating:
He said his government “again and again made decisive moves” suggesting that it was now the turn of European leaders to make “historical” decisions.
Unfortunately, the Greeks are facing a proposal to install permanent monitors or economic managers from the Troika according to an article from the newspaper Prothema in Greece:
1. They give an over 50% haircut asking for primary surplus from 2012.
2. They give restricted national participation in European programmes down to 5% and are asking for free markets in order to enter energy and tourism fields under more favourable terms.
3. They give… Euros! They want the troika in Athens on a permanent basis.
(see: What the lenders give and what they are asking in return, October 23 Prothema, translation via Google)
That means a total loss of sovereignty to preserve their socialist system of government benefits and economic management from the Greek people to now a group of European banking specialists.
That will not sit well with the citizens who just finished rioting in Athens.
If the “Eurozone” or “European Union” elects to survive, despite the dire prognostications, it would be wise to consider a truly historic course of action:
Let Greece default, eject them from the union and when they actually develop an economy based on capitalism instead of socialism then they can submit an application to join the union again. Whoops, my bad; if it is based on capitalism versus socialism the EU would cease to exist.
Commie on comrades.
Then just go ahead and fail in a flaming, spectacular fashion as the U.S. will join you soon.