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June 27, 2011
Down To The Wire?
Already aging, Europe is making its problems worse by reducing opportunities for its younger generation. In fact, the demographics in Europe are not encouraging and Mark Steyn wrote about this in his excellent book: America Alone. The Greek bailout is just one chapter in a larger social-economic unwinding that is taking place in Europe. In the near term, we watch Greece as it is embroiled in heated debate over its economic and fiscal degeneration. If Greece fails, there is larger concern with other weak players in Europe -- especially Spain. The situation in Greece is very fluid and changes by the hour. Where the debt/austerity vote goes is not clear right now. According to Ekathimerini.com, a vote to approve the austerity plan -- even assuming that it would work -- is not a slam dunk. The citizens of Greece are definitely not cooperating, and there have been wide scale protests, with more scheduled today. Some politicians are beginning...(Read Full Post)