Greece in Chapter 11

The only way to bring a country or corporation back from the dead is to halt all payments to creditors – the Greek Government is spending only slightly more than it earns (3% of GDP) if interest and loan repayments are ignored and with military spending at over 3% (double the NATO average) this is easy to address.

The so-called far left party, Syriza, does not want to leave the Eurozone, nor do the majority of the Greeks. The next elections are about “protect the French and German banks or not”. I say “not”. Let them recapitalise, go under or as I have been suggesting since 2008, nationalise the lot of them.

The Greek political parties that have got Greece into this mess will argue (as does the BBC – no hidden agenda there of course) tha the next elections in Greece are about the “Euro or the Drachma” – this is false, when AIG went down the company didn’t leave the dollar zone! There is no mechanism to eject a country from the Euro – forget it!

How amusing if the Greeks are the ones finally to bring the mirror to the face of Medusa!

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