“Beware The Greeks….”

The newly elected Greek president, Alexis Tsipras, has said the he intends to end austerity, and renegotiate the debt. Brussels and Berlin are not amused.

(Alexis Tsipras was elected from a political party called “The Party Of The Radical Left.)

Margaret Thatcher’s brilliant observation that, ” The problem with socialism is that you eventually run out of other peoples’ money” is that, in the case of Greece, there is no one else’s money.

And, without the EU lending them more money, they will not in the future.

Apparently, Alexis Tsipras has not heard of Christina Kirchner, the president of Argentina. Her nation has delayed and delayed billions owed to hedge funds in New York, but.a Federal Judge hearing the elongated case has ordered them to pay up!

Their refusal has caused Standard and Poor to call Argentina in “Sovereign Default,” and the day of reckoning is nigh.

The European Union was wondering if the Euro would survive Greece leaving the EU, but more recently the Brussels/Berlin axis has decided the EU would be better off without Greece.

The problem that Alexis Tsipras has is exactly what happened to President Obama –indeed EVERY president of every country discovers on the first morning of his presidency, best described by the term, “Holy Crap! I had no idea it was that bad!”

There follows a dance to hide, dissemble, delay the problems, trying to keep the balls in the air — hoping the problems will either solve themselves, get solved by other nations, magically disappear, or can be nuanced sufficiently to be passed on to the new president.

Greece has its problems, but the reflected problems impact the EU and, since the EU is our main trading partner, to a minor extent, the US.

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