Paul Krugman, noted economist and column writer at nytimes.com, weighed in this morning on the Greek fiscal situation. He compared the ongoing negotiations to the themes in a new book: "The Sleepwalkers". The author recounts the year 1914 and the lead up to the First World War. Krugman says that the political leaders then were not negotiating in good faith and waltzing toward conflict that some among them thought would be a "good" thing and "clear" the air, and "clarify" issues. We know how that turned out. Krugman, after all his verbosity on the issue, finally puts forth some elements of a plan that could save Greece from the international community's wrath, and salvage the Greek economy from implosion. He believes, as happened in 1914, the spillover from Greece' exit the Euro Zone would have a ripple effect across the continent. This is no doubt, true. Those Northern European thugs should wake up and look in the mirror(eg. FIFA).
The Greeks are not a soccer team, but a proud nation unwilling to be humiliated any further than they have already after 5 years of austerity that has continued to cause grief among the citizenry. Enough they say on the streets of Athens. Is anybody listening? Or are we going to redo 1914?
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