This is an example of instability on a global scale and is a useful example on a political power essay.
How much say does the Greek PM really have with the Greek populace breathing down his neck on one side and the IMF, G20 nations and Eurozone countries on the other…(far too many organisations for my liking – all are aimed at increasing the power of the wealthiest nations, no matter what they say!)??
Such immense economic instabilty creates incredible political instability and poses questions about the whole European Union experiment. Some parallels can be drawn with the Gold Standard during the 1930s Great Depression. Those countries which ditched the Gold Standard last suffered longest (USA & France) and those that ditched it early (GB, Germany & Japan all in 1931) recovered from economic depression the quickest. Some will make the same argument for the Euro…
- Berlin urges Greece to clarify vote impact (calgaryherald.com)
- Europe must deliver rescue pacakge or risk another recession, warns think-tank (telegraph.co.uk)
- Greece debate takes center stage at G20 (money.cnn.com)
- Greek Cabinet Backs Call for Referendum on Debt Crisis (nytimes.com)
- G20 summit: Cameron will urge EU to flesh out bailout deal (guardian.co.uk)
- G20: Merkel desperate to solve Greek debt crisis (guardian.co.uk)
- Greece’s Dangerous Gamble (outsidethebeltway.com)
- David Cameron calls for G20 euro urgency (independent.co.uk)
- There’s An Endless Slew Of Headlines From Europe That Just Keep Getting Worse (businessinsider.com)