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Blog Posted in avatar   James P Mahon's Blog

Europe looks to Greece

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By James P Mahon
Posted May 9, 2012 in Politics
The world is watching and waiting as Greece is yet to deliver a government.
If a coalition can not be formed then there may be a further election in June leaving more confusion, uncertainty and punishment.
Greek people on the streets are unsure of what is going on with their country and have been lied to for decades by its two biggest parties and are left lacking faith and belief in their political system or any one in power.
The nation that gave us some of the worlds greatest thinkers, speakers and rulers could be on the verge of defaulting to the point of falling out of Europe in the coming months.
With more unrest and distrust coming in the light of the French elections and with tension building between France and Germany the out look does not look positive.
Spain's third biggest bank, Bankia, has just been bailed out and the country's unemployment continues to sky rocket. If Greece cannot repay its loans it may have to leave the euro zone and start reprinting its own money. When you hit rock bottom the only way to go is up, just ask Iceland.
To lose Greece from the Euro-zone could make share prices and trust drop further in European markets and only time will tell where the fate of our currency, our continent and our European family lies.

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