This is a powerful and somewhat frightening article from Wolfgang Münchau in the FT. I’d recommend it as a must-read. Check it out!
via The real threat to Europe lies in Ukraine rather than Greece – FT.com.
Münchau argues that in a geo-strategic sense the potential crisis in Ukraine and with Russia is much larger and potentially more urgent than a Grexit. He simply argues that a Grexit would be a tragedy for Greece and a reputational disaster for the EU. For me, the potential funding that the EU needs to pump into Ukraine is eye-watering.
Let’s put this in context. Right-wing politicians are proposing telling Russia that the EU should tell Russia that the EU’s ready for war. Also European countries are now deeply worried about a seriously weakened UK, post election.
Personally, I agree with my colleague, John Gelmini, in this regard. Let me cite his viewpoint:
Europe should try to rebuild its economy and create jobs and curtail this sort of warmongering rhetoric until it really can “Speak softly and carry a big stick”.