As rough as economic conditions are in the United States, and as intense our presidential election is gearing up to be, I wouldn't want to be in the shoes of Greek voters heading to the polls next month: keep the current government in charge, and the harsh EU austerity controls, or bring in a new voice, which could bust the entire EURO.
Now, I don't exactly believe the EURO is economically healthy for Europe, due to the fact it ties the entire continent to each other and doesn't allow for fair competition between nations, but right now a faction within the currency could lead to complete upheaval of the global economy.
On the flip side, I can understand the underlying nationalist sentiment fueling the Greeks radicalism: they have had nothing but pain come from the EU and the international community making them into the scapegoat for Europe's economic woes, and the return to the drachma.
However, and this is a big one, as painful as this is for me to write - Greece has to keep their current course in regards to the EURO and especially with the ongoing austerity measures because it isn't just their future that's effected by their economy's performance, but the entire continent, and in some ways, the entire world.
They cannot roll the dice and risk Europe; they must stay the course and they must, for the time, keep the EU united and strong. This is not the time for brash decisions, but calm, cool, steady leadership in the face of seemingly insurmountable obstacles.
What say you?
The global economy gives us continual reason to impliment protectionist measures.ReplyDelete