Why Greece Will Stay Put

Greece’s financial problems evidently were weighing on investors’ fevered brains on Friday. Grexit hysteria, which resurfaces every couple of months like a stubborn rash, was said to have triggered a global selloff in stocks that saw the Dow Industrials fall by 1.54% and Germany’s DAX plunge even harder, suffering a 2.58% decline. Don’t they ever learn? First of all, no matter what you read, Greece will not be leaving the EU. That’s because the consequences are not only unpredictable, but potentially catastrophic. For despite attempts by the spinmeisters and their news media lackeys to convince us that the impact of cutting Greece loose from the eurozone would have but a minor impact on Europe’s economy, we know better. We’ve already seen how the bookkeeping problems of an obscure bank in Cyprus nearly toppled the global financial system. It’s a house of cards, as the banksters well understand, and that’s why the EU is unlikely to kiss off Greece, its puny economy and its rinky-dink banks.

This post was published at Rick Ackerman on Monday, April 20, 2015.