Greenspan says shattering of European Union will begin with imminent Greek implosion

Saturday, February 28, 2015
By Paul Martin

by: J. D. Heyes
Saturday, February 28, 2015

The former chief of the U.S. Federal Reserve says it is just a matter of time before the European Union implodes, along with its currency, following what he believes will be a “Grexit” — a Greek exit — from the EU.

In a recent interview with the BBC, former Fed Chairman Alan Greenspan said he did not see a scenario in which the EU or its lending institutions, including its own central bank, would risk loaning the economically struggling nation more money, especially after its new far-left leadership came to power vowing to scrap current austerity measures called for in a previous loan package.

Greek finance officials are seeking to renegotiate the country’s prior bailout loan, which amounts to more than $250 billion, but Greenspan said, “I don’t think it will be resolved without Greece leaving the eurozone.”

Such a departure is worrying to British officials as well, the BBC noted.

‘All cards being held by the Eurozone’

Greenspan, head of the Fed from 1987 to 2006 — the Reagan, Clinton and George W. Bush years — added, “I believe [Greece] will eventually leave. I don’t think it helps them or the rest of the eurozone – it is just a matter of time before everyone recognizes that parting is the best strategy.”

“The problem is that there is no way that I can conceive of the euro of continuing, unless and until all of the members of eurozone become politically integrated – actually even just fiscally integrated won’t do it,” he added.

The Rest…HERE

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter