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Posted by on May 14, 2012 in Economy, International | 2 comments

Greece Heads To Elections, Economy May Head Off Cliff

Tom Janssen, The Netherlands

It looks now like Greece will hold new elections in June andd that the “spend whatever we need to spend” coalition will win,even though most responsible politicians from mainstream left to mainstream right recognize this is a bad move.

We may think that such elections don’t matter to us but they do.

The Greek economy is already in chaos and if this continues then there is no way they can avoid defaulting on their debt. This will lead to economic chaos in Greece which is likely to spread to Europe and then around the world.

I’ll have a more detailed post up this week exploring all the details of this (to the degree that my feeble brain can explore) but it is going to be a real mess folks.