Sunday, October 02, 2011


...are not working. One of the disadvantages of democracy is crisis management; Politicians and Representatives simply lack the concerted overwhelming power necessary to control situations that quickly unravel. More on this phenomenon in the context of global power transfers later.

Greece will miss deficit targets set just months ago in a massive
bailout package, sources said citing a budget draft being adopted by
the cabinet, in a setback in Europe's efforts to stave off the
country's bankruptcy.

The dire forecasts come while inspectors from the International
Monetary Fund, EU and European Central Bank, known as the troika, are
in Athens scouring the country's books to decide whether to approve a
loan tranche, without which Greece could run out of cash this month.

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