Wednesday, November 02, 2011
WHY GREECE?
Just this morning I tried to answer to this question. But better than my feeble attempt is this piece by Kevin Drum.
He does a great job of untangling a complicated situation.
I am still not sure why Greece and the Euro and the European Union are so critical to the daily swings of the stock market except in the sense that globalization, particularly of financial affairs, makes world wide waves no matter where the rocks are dropping in the water.
What I thought was an insane response, the "referendum", now seems to be another ploy to get the Union to do more or take more responsibility.
Someone will have to blink.
Or, the opposition within Greece will topple the current regime (I am trying to avoid spelling Papandreou). Many in the parliament are in favor of signing the agreement as it now stands. Up to yesterday his cabinet was willing to sign but he got them onto the referendum wagon.
Anyway the markets are bat-shit insane anyway. So what's a little Greece in the fire?
Labels: economy
