Wednesday, 17 June 2015



Yet more gloomy news about Greece from the Daily Telegraph.

Bank of Greece issues grave warning of Grexit as British government prepares for fallout - live

Protests planned in Greece tonight, as rumours of a compromise deal swirl

British government accelerating preparations for Grexit as Bank of Greece describes need for a deal as a "historical imperative"

The situation in Greece is interesting to those of us fortunate enough to be uninvolved. In spite of all the analysis available, nobody seems to know how the situation will be resolved. Almost everything I read sounds like frenetic guesswork or a statement of the obvious.

To my economically untutored mind it is a fascinating battle between economic realities and raw political power. In spite of its clumsiness, it forces us to understand just how powerful the EU political machine can be when threatened - and that is a lesson we should absorb and inwardly digest but almost certainly won't.

Possibly worth considering is the potential impact on the EU referendum to be held in the UK. No doubt the EU and the UK government intend to buy their desired result and in that they are likely to succeed. So could this important purchase be put at risk by a successful Greek exit from the euro or even the EU?

Maybe so - in which case the situation in Greece will be resolved.


Sam Vega said...

An interesting prediction, AKH. I feel you are right.

Demetrius said...

There are no right answers.

A K Haart said...

Sam - I hope not because it seems so cynical, but cynical seems to be the only worthwhile standpoint.

Demetrius - yet many will claim otherwise.