I am a little surpised that the riot phase of this long politico-economic drama known as EMU has kicked off so soon, and that it has done so first in Greece where the post-bubble hangover has barely begun.I'm glad my offspring is now safe at home in Canada.
The crisis is much further advanced in Spain, which is a year or two ahead of Greece in the crisis cycle.
The picture is going to get very ugly as Europe slides deeper into recession next year. The IMF expects Spain's unemployment to reach 15pc. Immigrants are already being paid to leave the country. There will be riots in Spain too (there have been street skirmishes in Barcelona).
Wednesday, December 10, 2008
Greek Riots
Interesting article from the Telegraph on the origins of unrest in Greece. Incidentally, in the article he mentions conditions in Spain:
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Greece needs a neutralizing junta like during Crimea to prevent soviet access to the straits. Then they can scurry about in denial blaming Armenians, Jews or Albanians as these perfidious Trojan Horse diner people are wont to do. They never wash their hands, bodies, clothes or dishes, so we must close thier Islamo-Soviet temples in maerica before they riot here, too.
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