Lawrence Solomon: Russia’s Grentrance

Posted by ETFalpha ⋅ July 5, 2015 ⋅ Leave a comment

Filed Under $ERUS, $EZU, $FEZ, $FXE, $RSX, $VGK, bailout, banking, Banks, capital controls, Capital Restrictions, Crisis, Debt, Debt Default, DEFAULT, Economy, EM, Emerging Markets, EU, Euro, Europe, Eurozone, Finance, Finance Minister, Geopolitics, Greece, Greek Referendum, GREK, Grentrance, Grexit, IMF, Inflation, International Monetary Fund, Putin, Referendum, Tsipras, YANIS VAROUFAKIS. Russia

Financial Post

If Greece leaves the eurozone, Russia will enter it, casting a chill over Europe

The world is focused on the immense implications of a Grexit, or an exit of Greece from the European Union. It might also consider the immense implications of a Grentrance, or an entrance into Greece of Russia. A Grexit would almost certainly be followed by a geopolitical reset that would alter the balance of power in Europe and the Middle East.

We in the West think of Greece as the cradle of Western civilization, and being inextricably, unambiguously part of Europe. But ancient Greece is not modern-day Greece, which was rescued in 1821 from centuries of Ottoman domination by a revolutionary movement born in Russia, led by a Russian commander, and financed in part by Russia. Greeks owe Russians a debt of gratitude for their independence almost two centuries ago and a debt of gratitude today…

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