Tuesday, June 21, 2011

financial collapse of greece: canary in the coalmine for global economy?

the economic collapse blog: The rest of the world needs to sit up and take notice of what is going on in Greece right now. This is what can happen when you allow government debt to spiral out of control. Once it becomes clear that you can't pay your debts, a financial collapse can happen very suddenly and you start losing your sovereignty to those that you must turn to for financial help. So is the financial collapse of Greece the "canary in the coal mine" for the global economy? EU finance ministers have given the Greek government two weeks from Monday to approve another round of brutal austerity measures. If the austerity measures are not approved, Greece will not receive the next bailout installment of 12 billion euros. If that happens, the whole globe better buckle up because it is going to get crazy. July 3rd is the deadline. Basically the EU has put a gun to the head of the Greek government. Without this bailout money, Greece will default and economic hell will break loose all across the country.

video update: greece's papandreou survives confidence vote*

econocrash updates:
scotus takes a step closer to debtors' prison*
wal-mart sex discrimination class action rejected*
unionized actors made anti-union video for target*
video: nc man allegedly robs bank of $1 to get health care in jail*
bank demolished man's house by mistake*
surprise oil release rattles markets, investors*
bankster gunned down in puerto rico suspected to be professional hit*
video: chris hedges says 'global revolution must begin in america'*

1 comment:

Tshisuaka said...

I don't know sh*t but I AM aware their is a serious problem -a bunch of serious problems, and I'm generally aware of their circumstances, for example there was a general strike recently in Greece which is a BIG F***ING DEAL. I don't think alot of Americans are with on that though. The distraction tactics are slick and trans generational but I'm not nancy and this ain't negative! Sites like MediaMonarchy.com are inspirations to sites like mine (citizenminneapolis.com) so lets do this thing space sisters and space brothers and tell it from the mountain top!

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