LIGHT YEARS APART… WHILE CRISIS EXPLODES
The European “union” these days is in the roughest tumble of its short history.
Busy with devastating Greece via the German-inspired, Troika-implemented, bankrupt “solution” of brutal austerity and tax genocide, the “union” fools itself believing that it is, indeed, trying to find the formula that would lead to an exit from the current European existential crisis.
The European mess is such that the White House, alarmed over the possibility of another global economic crash triggered by a Greek default, sent Treasury Secretary Timothy Geithner to pay an unprecedented visit to a meeting of his European counterparts in Poland.
After a lull of a couple of months, Greece is again in the sights of the northern (or German) EU bloc, with Greece’s “saviors” throwing out open threats of cutting bailout aid immediately if the Papandreou regime does not act instantly to further strangle the Greek economy into extinction as agreed so many times before.
Likewise, unemployment is the source of a series of social and, in extension, political problems a country, any country can face. In addition, unemployment is in itself an indicator of several possible malfunctions and wrongdoings as far as public policy or the very structure of a society and an economy are concerned. Whereas high unemployment rates in parts of Africa, Asia and Central and South America have been so far the norm with relatively high rates of criminal activity and state failure, the recent financial and consequentially social crises in both North America as well as Europe provide an interesting and challenging paradigm of the correlation of unemployment and an increase in the risks to National Security.
Greece nowadays breaks disastrous records one after the other: it has the European “union’s” worst economy; it has the lowest rating in the world by international rating houses; its sovereign debt continues to balloon thanks to catastrophic austerity imposed by the troika (the IMF, EU, ECB) that has killed all hope for even modest recovery from the deepest depression since the end of WW2; unemployment has shot past 15% and will be soon topping 20%, if not more; hundreds of thousands of smaller and medium-sized businesses have been shuttered and more will follow as punitive taxation destroys the fabric of what is left of a domestic market; and government waste, fraud, and mismanagement continues unabated.
By Joseph Lerner
Ioannis Kolovos