Keith
Keith Hudson, Saltford, England http://allisstatus.wordpress.com
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"Britain Suffers as a Bystander to Europe's Debt Crisis" so says the
headlines in today's New York Times. On its home page this is
followed up with: "If the Euro falls, Britain will sink, but if
Europe forges a closer unity among the Eurozone countries, then
Britain faces being ever more marginalized." What the NYT doesn't go
on to say in its story is that, if the Euro fails, America will also
be marginalized. This is why a deeply worried US Treasury Secretary,
Tim Geithner, has been over here in Europe for the past three days
talking to the four leading players (Merkel, Sarkozy, Monti and
Draghi). Geithner, whose real executive power concerning currency
exceeds that of President Obama (and President Hu for that matter) is
too intelligent not to know that if the Eurozone sinks into economic
depression then so will America and China. All three major economic
powers (and any other country with a halfway competent civil service)
will be busily printing food tokens and polishing their emergency
procedures right now.
