Accession Number:

AD1012818

Title:

Greece: Too Strategic To Fail

Descriptive Note:

Technical Report

Corporate Author:

AIR WAR COLL MAXWELL AFB AL MAXWELL AFB United States

Personal Author(s):

Report Date:

2016-02-16

Pagination or Media Count:

37.0

Abstract:

History often repeats itself. Contemporary Greece is a case in point. Greeces current financial woes are nothing new. Since before gaining its independence in 1830, what was to become the Hellenic State has teetered on the brink of insolvency. As in the past, todays fight largely revolves around the international pressure to repay the debt and the domestic intransigence to implement the financial austerity measures required to meet that obligation. Complicating this fight is the perception that corrupt Greek political and financial institutions caused Greeces current financial woes. While examples of Greek corruption abound, it is also clear that the international banking community and European Union EU were complicit in the current Greek financial crisis. This financial crisis, coupled with the mass wave of Syrian refugees seeking asylum in Europe and a resurgent Russia with hegemonic aspirations, pose an existential threat to the EU. Greece stands at the center of all three dilemmas. In the midst of this turmoil, the EU must decide whether prosperity or security is its top priority. This key decision will determine whether Greece, and ultimately the EU, fails.

Subject Categories:

  • Economics and Cost Analysis
  • Government and Political Science

Distribution Statement:

APPROVED FOR PUBLIC RELEASE