by John Galt
February 12, 2012 16:45 ET
Tonight’s editorial from Ambrose Evans-Pritchard in the U.K. Telegraph is perhaps the starkest commentary yet on the disaster in the European Union and inside of Greece:
Germany’s Carthaginian terms for Greece
(click on the title to read the commentary in full)
One sentence describes the EU’s folly best of all in this must read article:
Belief that EMU fall-out from Greek exit – or “Grexit” in market slang – can be contained by firewalls and more fiscal austerity assumes that Greece is a special case, alone brought low by turpitude.
Greece is to the European Union as was Sudetenland was to the European powers of the late 1930′s. No matter the results in Athens tonight, a path to war is being paved based on the mistakes of history and the incompetent greed of the leadership of this era, almost identically to the period preceding World War II.
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