Foreign News and Analysis Since April 2005 -- formerly China Confidential -- What's Really Happening in the WorldForeign Confidential ™
Thursday, June 21, 2012
Greece Swears in Pro-Austerity Prime Minister
Samaras Takes Office Before Cabinet Announced
The three-party coalition will be weak and could easily collapse within a few months. Read more.
Comment: The EU was a good idea--up to a point. But the common currency was a bad idea. German austerity amid recession was an even worse idea--the harsh measures have failed everywhere. Greece is in a depression; Greek democracy, increasingly in danger of being overthrown. What is happening is unprecedented in the history of postwar Europe; that Germany should be chiefly responsible for the devastation is disturbing, to say the least.Wednesday, June 20, 2012
World Leaders Urge 'Fiscal Responsibility' as Europe Falls
Presidents and Prime Ministers Argue About Austerity Vs. Stimulus
Leaders of the UK, Germany, and South Korea are insisting on austerity, incredibly, with Europe on the brink of collapse and the United States stuck in a managed (for now) depression. Read more.
Seoul has nerve. If not for Washington, South Korea would long ago have been conquered by China-backed North Korea. A defense dependent that is reliant on the physical presence within its borders of some 30,000 U.S. troops really has no business lecturing its ally and other nations about anything.
Related: Greece Close to Coalition as Athenians Queue for Free Fruits and Vegetables
Thursday, 21 June 2012
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