Tuesday, 28 April 2015

Reggie Middleton-Greece Most Dangerous Threat to the Global Economy


Could we have another financial disaster this fall? Financial expert Reggie Middleton contends, “There are a lot of powerful forces trying to kick the ball down the road, but the longer you kick it, the greater the recompense when it’s time to pay the piper. The most dangerous threat to the global economy would be a contagion from Europe and from Greece, but not because Greece defaults. This is the danger Greece causes, and that is Greece’s success is by far the greatest danger. Suppose Greece drops out of the Eurozone, and there are going to be hard times, and they pull it off . . . then every other country that is subjected to extreme austerity say why in the world are we allowing ourselves to be subjected to this by the Troika and Germany? Greece was able to pull out . . . and they did no worse than they did while being subjected to austerity. Then, now they are truly a sovereign nation. . . . If Greece gets away with it, then you have to take a look at Portugal and Spain and Italy and Ireland, and they will think about it. If Greece even partially succeeds, then the entire Eurozone experiment is gone.”



[Posted at the SpookyWeather blog, April 28th, 2015.]

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