Greece will be voting again on Sunday June 17, 2012. Depending upon the outcome, it is possible that Greece will abandon the Euro and enforced austerity. It may be bad for the rest of Europe and the US, but it may be good for the people of Greece. Iceland let its banks go bust and now Iceland is recovering nicely. Greece got into trouble by borrowing more than it could repay from big, Wall Street banks. Greeks also have a history of tax avoidance which is not unique to Greece, but probably more endemic there. I will await Sunday’s results with bated breath. I wish the Greek people well.
- Iceland’s Lesson for the World: Control Your Own Currency and Help Your People (news.firedoglake.com)
- Greece and the Banksters (economicpolicyjournal.com)
- Greece elections pose a crucial dilemma _ Q&A (kansascity.com)
- Fisher: Europe totters on the edge as Greece drama approaches its climax (canada.com)