Professor Nick Economides touched base with the Financial Survival Network today from Athens, Greece. Forgive the sound quality, the economy isn’t the Greek’s only problem. Prof. Economides foresaw the Euro’s problems many years ago, before most others. So while, we may not agree that growth is the cureall for the world’s collapsing economic system, it is important that we to listen to the informed few who knew saw what was coming, before all the “Johnny Come Lately’s.” However, there is a growing chorus people around the world, who believe that the debt is just to large to be managed and the underlying problem must be addressed.
Prof. Economides says that the situation in Greece is currently calm. He believes further austerity measures will be implemented and that there is little chance that Greece will go back to the drachma. He thinks this would be an unmitigated disaster. And he may well be correct.
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