Not only Greece

By
June 24, 2012 05:30

This is the time for us to gear up for big, bad trouble. We cannot afford to be complacent spectators.

3 minute read.



Greek man passes a drachma coin replica in Athens

Greek man walks past drachma coin replica in Athens 370 (R). (photo credit: REUTERS/Yorgos Karahalis)

It would be incorrect to conclude that last week’s formation of a new government in Athens categorically preempted the looming Greek tragedy which threatened the entire euro zone. Europe is by no means safe, although the Greek electorate’s narrow pro-euro preference is clearly better than the alternative that would have triggered potentially catastrophic chain reactions.

It’s a relief but at best a very temporary one. The pro-bailout coalition doesn’t represent a decisive turning point. It’s merely a brief intermission in the unfolding drama. Europe was spared an immediate crash but the deep divide remains between its wealth-generating northern economies and the welfare-reliant south.

Read More...

Related Content

Smoke rises from a target hit by Turkish forces in Afrin, Syria, January 20, 2018
February 18, 2018
Stand up to Erdogan, protect ethnic and religious minorities in Syria

By DILIMAN ABDULKADER

Israel Weather
  • 8 - 18
    Beer Sheva
    11 - 18
    Tel Aviv - Yafo
  • 9 - 14
    Jerusalem
    11 - 16
    Haifa
  • 13 - 23
    Elat
    11 - 18
    Tiberias