I am concerned that the Greek debt crisis might lead to a war (although I don't know who would be fighting who). The problem is economic at its heart, and such a war might involve the breakup of the EU or departure of a country from the euro.
Here's the current situation: Some 27 countries, some with small overseas territories, are in the European Union, and many of those are also in NATO. Greece happens to be bankrupt (and Italy is allegedly also heading that way, not to mention Spain and/or Portugal). France and Germany are arguing over what to do about it. France pretty much wants money to be created and poured into its banks to shore them up. Germany is afraid of inflation and wants most of Greece's debt to be written off. (At least that's what I think their positions are.)
People are afraid that this situation is going to get out of control (the so called "debt contagion"). If that happens, then there might be departures from the euro/EU, attempts at "military Keynesianism", and, for all we know, attempts at taking over assets in other countries by force. After all, Hitler built up his forces and broke various international treaties before going to war - in the wake of the Great Depression.
How big is the risk of a war from a European recession/ depression stemming from the debt crisis? Is the hatchet truly buried?
Here's the current situation: Some 27 countries, some with small overseas territories, are in the European Union, and many of those are also in NATO. Greece happens to be bankrupt (and Italy is allegedly also heading that way, not to mention Spain and/or Portugal). France and Germany are arguing over what to do about it. France pretty much wants money to be created and poured into its banks to shore them up. Germany is afraid of inflation and wants most of Greece's debt to be written off. (At least that's what I think their positions are.)
People are afraid that this situation is going to get out of control (the so called "debt contagion"). If that happens, then there might be departures from the euro/EU, attempts at "military Keynesianism", and, for all we know, attempts at taking over assets in other countries by force. After all, Hitler built up his forces and broke various international treaties before going to war - in the wake of the Great Depression.
How big is the risk of a war from a European recession/ depression stemming from the debt crisis? Is the hatchet truly buried?