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EU? a cold shiver just went down my back...

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April 11, 2012 – Comments (11)

Waiting for the EU (Greece) Tsunami

I suggest that you batten down the hatches and make sure that your life insurance premiums are up to date. I saw 60 Minutes on Sunday, and stories about the Greece default and the future of the EU are rather commonplace. What gave me that faintly queasy feeling in the pit of my stomach were the comments that Germany's Angela Merkel is viewed by Greeks as out of the same playbook as Nazi Germany and Adolf Hitler. There were many cartoons, unbeknownst to me, equating Germany and the EU to the Third Reich.

You see, memories of Nazi abuse during WW2 are still fresh in the minds of Greeks. The current EU crisis and demands upon Greece are being viewed, understandably, as not dissimilar. The true level of hatred of Germany as the economic drum majorette by Greeks is, I think, underestimated by us Fools. A sovereign default by Greece will happen, and it is difficult to imagine an amical resolution.

When the Hellenistic doo-doo hits the fan, it might shred the EU and take the world economy with it. I hope that I am being unnecessarily paranoid, but I have a bad feeling about this.

11 Comments – Post Your Own

#1) On April 11, 2012 at 9:31 PM, HarryCaraysGhost (99.63) wrote:

Greece is a really small place. Just going on a quote I heard, "the population is less then Chicago."

So I doubt that the undoing of any of the PIGS would derail the world economy for very long.

Cheers.

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#2) On April 11, 2012 at 9:37 PM, HarryCaraysGhost (99.63) wrote:

Just to make sure that did'nt sound nasty-

I was refering to the acronym-

(P) Portegul (I) Italy (G) Greece (S) Spain.

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#3) On April 11, 2012 at 10:11 PM, jerryguru69 (95.35) wrote:

Ahem: 

PIIGS = Portugal, Italy, Ireland, Greece, Spain. 

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#4) On April 11, 2012 at 10:15 PM, jerryguru69 (95.35) wrote:

You owe the bar a round of Guinness Stout.

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#5) On April 11, 2012 at 10:15 PM, portefeuille (99.66) wrote:

Portegul

Hey, that is the name I wanted to give my first yacht ...

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#6) On April 11, 2012 at 10:32 PM, HarryCaraysGhost (99.63) wrote:

I stand corrected=

http://en.wikipedia.org/wiki/Economy_of_the_Republic_of_Ireland

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#7) On April 11, 2012 at 10:35 PM, HarryCaraysGhost (99.63) wrote:

#5 hahahaha

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#8) On April 11, 2012 at 10:45 PM, HarryCaraysGhost (99.63) wrote:

You owe the bar a round of Guinness Stout.

Or if you'd like a black n' tan.

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#9) On April 11, 2012 at 10:52 PM, jerryguru69 (95.35) wrote:

Brits...

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#10) On April 11, 2012 at 11:09 PM, jerryguru69 (95.35) wrote:

For the record, Spain or Italy are both too-big-to-fail. If either sovereign government defaults on its bonds, it will be beyond the ability of the ECB or IMF or whatever to prop up with available funds. 

Do not say that I did not warn you.  

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#11) On April 12, 2012 at 1:08 AM, CCharing (90.80) wrote:

Be greedy when others are shivering, shiver when others are greedy...

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