Here is the latest on the debt crisis in Greece:
World markets rallied Thursday after European leaders agreed on a plan to deal with the eurozone debt crisis. But in Greece, the most imperiled country, there was skepticism that the deal will do much to help the country out of recession.
In addition, many Greeks also fear that they are losing their sovereignty, and are uncomfortable about the role Germany will be playing in the country's financial future.
The Nuntius stock brokerage firm is, unlike similar offices in New York or London, deathly quiet. So many people have been laid off that the offices are nearly empty.
The firm's president, Alexandros Moraitakis, sits behind a big desk, his cell phone ringing with calls from clients eager to know about the EU deal that was reached at dawn Thursday.
His own profession is in critical condition. In the past two years, the Greek stock market has lost 75 percent of its volume. Personally, he doesn't like the EU deal. He says the EU, the International Monetary Fund and the European Central Bank — known as the troika — have his country's fate in their hands.
Isn't America also involved with the International Monetary Fund? And here is another similarity:
Moriatakis lists some other troika results: Unemployment has doubled, and despite two years of draconian austerity measures, Greece is in recession and spiraling downwards. Many commentators echo this negative view.
And there's widespread criticism that the troika is going to have a permanent office in Athens for the rest of the decade.
German Chancellor Angela Merkel has made clear that over-indebted eurozone countries must be closely overseen by international inspectors.
Many Greeks see this as the first step of a loss of national sovereignty.
How soon will it me that America will be considered "over-indebted" and in need of "international inspectors"? And when you lose your national sovereignty, you then become controlled by the New World Order.
I hope it happens soon! Like before the RNC in Tampa. At least then we have shot of getting a constitutionalists (Ron Paul) in the white house.
Posted by: Aaron Heidelberger | March 23, 2012 at 09:13 AM