Greece Prime Minister George Papandreou wants to find a way to blame the debt crisis on U.S. investment banks (ie Goldman Sachs) – he doesn’t cite any connections how GS was able to cause Greece to spend money it had no chance of repaying.
The IMF is rushing in to save the Euro – the US is around 18% of the pool of credit the IMF – I’ve heard the number $50 billion thrown around as the US contribution to try to stop the Euro from falling apart.
The Nobel Peace prize to Al Gore will be the ultimate irony. This crisis is a logical implication of slamming the brakes on economic activity in Europe to slow down global warming. Economic conflicts can easily escalate into violent military conflicts. If Greece is unable to defend itself, Turkey could reignite old conflicts, like the one on Cyprus. Weakness invites invasion
