IMF & European institutions are equally responsible for this crisis. they
should work for stability & grouth. they appear to be working as moneylenders,
not organizations. they are causing volatility & risking global economy.
they are unmaking their role.
A failure to resolve the Greek debt crisis could do more than weaken the euro and cause stocks to retreat.
It has the potential to prompt a Greek withdrawal from NATO, increase the influx of refugees into Europe and threaten Greek support for international sanctions against Russia over Ukraine.
“Greece spiraling into chaos would be a significant strategic disruption for Europe and therefore for the U.S.,” retired U.S. Admiral James Stavridis, a former NATO supreme allied commander, said in an interview. “There’s more to this crisis than money and the financial markets.”
Such outcomes are possible, though unlikely, should European leaders prove unable to resolve the debt dispute that has shut Greek banks and frightened investors. Greece asked for a new bailout program from the euro region on Tuesday after saying it will miss a midnight deadline for a debt payment to the International Monetary Fund.
If Greece ultimately is pushed off the euro currency for defaulting on its debt, it could seek revenge by pulling out of the North Atlantic Treaty Organization, blocking European Union sanctions on Russia or forcing the U.S. from its naval base in Crete, said Stavridis, a Greek-American who is dean of the Fletcher School of Law and Diplomacy at Tufts University in Massachusetts.
http://www.bloomberg.com/news/articles/2015-06-30/greek-debt-crisis-risks-nato-withdrawal-new-surge-of-refugees
should work for stability & grouth. they appear to be working as moneylenders,
not organizations. they are causing volatility & risking global economy.
they are unmaking their role.
A failure to resolve the Greek debt crisis could do more than weaken the euro and cause stocks to retreat.
It has the potential to prompt a Greek withdrawal from NATO, increase the influx of refugees into Europe and threaten Greek support for international sanctions against Russia over Ukraine.
“Greece spiraling into chaos would be a significant strategic disruption for Europe and therefore for the U.S.,” retired U.S. Admiral James Stavridis, a former NATO supreme allied commander, said in an interview. “There’s more to this crisis than money and the financial markets.”
Such outcomes are possible, though unlikely, should European leaders prove unable to resolve the debt dispute that has shut Greek banks and frightened investors. Greece asked for a new bailout program from the euro region on Tuesday after saying it will miss a midnight deadline for a debt payment to the International Monetary Fund.
If Greece ultimately is pushed off the euro currency for defaulting on its debt, it could seek revenge by pulling out of the North Atlantic Treaty Organization, blocking European Union sanctions on Russia or forcing the U.S. from its naval base in Crete, said Stavridis, a Greek-American who is dean of the Fletcher School of Law and Diplomacy at Tufts University in Massachusetts.
http://www.bloomberg.com/news/articles/2015-06-30/greek-debt-crisis-risks-nato-withdrawal-new-surge-of-refugees
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