The Collapse Of The E.U. Begins

Greece Considers Exit from Euro Zone

Moreover, should Athens turn its back on the common currency zone, it would have serious implications for the already wobbly banking sector, particularly in Greece itself. The change in currency “would consume the entire capital base of the banking system and the country’s banks would be abruptly insolvent.” Banks outside of Greece would suffer as well. “Credit institutions in Germany and elsewhere would be confronted with considerable losses on their outstanding debts,” the paper reads.

Greece has since denied this report.

Which, given past Greek denials, means it’s absolutely 100% true.

I wonder what EU member states will do to convince Greece to stay? Is there anything they could do? I doubt it.

After Greece leaves, Spain, Italy, Portugal, and Ireland would quickly re-evaluate their positions too. So would all the smaller states that have been abused but whose stories haven’t popped to the forefront like those five nations.

Monetary union was never a good idea. Merger-mania hasn’t worked well with corporations — creating rather than decreasing inefficiency — and whoever thought it could done across borders with nations and cultures should never be taken seriously ever again.

A dissolution of European monetary union would work to the advantage of the U.S. dollar, and I would bet there are covert machinations taking place abetting the coming breakup.

The entire global system of finance has been hijacked by thieves. So any advantage that seems to accrue to America out of this is nothing but more illusion propped up by those unwilling to take the losses they should have rightly sustained back in 2008.

We are all still doomed.

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Filed under Collapse, Pottersville

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