Can the Greece Ecomomical issue cause a European recession?

If ONLY it worked that way. And they are no more an oligarch than the US and similar countries. They aren't even a monarchy anymore. ICSM...

The "date" on this article is 13 hours ago:
German unemployment rate dips to 6.9 percent in June as economy booms - The Washington Post

My take is a bit different. If any of the PIIGS fall (Portugal, Italy, Ireland, Greece, and Spain) then we're (the world economy) done.

The problem is that Spain's economy is to large and is probably not salvageable in the current economic climate.

Just my thinking.

Joe Mobley

Explain how that's a sound economic move. It doesn't pay off any of the debts and it allows us to go further it to debt.
As far as our obligations go, we have plenty of obligations right here that need addressing and that are more important then our obligations to other countries. We always hear talk of cutting things from the budget that effect us, but do you ever hear of them cutting military spending or even talk about all the money we send over seas to countries like Israel?

There should be no more bail outs for countries like Greece. Sounds tough but they've got to be allowed to go bankrupt. No more propping up of their economy. They've got nothing else left to give and they can never get themselves out of their financial debt unless they go bankrupt.

Although Greece isn't the only problem in Europe. Italy, Spain, Portugal and Ireland also and several others all fall into the same camp. All of them eventually, like it or lump it, will end up completely and utterly bankrupt. It matters not the temporary interjections of cash pumped into their individual economies to try and keep them afloat. It's simply exacerbating the overall European debt crisis / problem.

What we've all got to do is to pump more into those entrepreneurs businesses directly who can actually help with the supply of goods and manufacturing. And introduce more measures to encourage consumer spending in these markets from right here within the West.

Of course the major investors and asset fund bankers are now hedging their bets very carefully. Both Europe and especially America are standing on very shaky foundations at this time. The knock on effects of the European debt crisis are now having, as we've seen today, very serious knock on effects to investor confidence in the United States. And where now are they pumping all of their money? Why, over to Asia of course and other similar emerging markets.

China on the other hand is stepping up to the plate in the interests of their own economy. Manufacturing on a level never before experienced in that part of the world. And sooner or later en masse the Chinese will be encouraged to buy more and more into their own manufacturing enterprises with a great stimulus to buy their own goods 'in-house'. Which in turn can only fuel their own emerging global super economy.

The problem here in the West is the political ends do not match the needs of the economy. So whilst there may be solutions on the horizon, these won't come into being any time soon precisely because the political price to implement such change/s, the will power to make these changes come about through law - is undeniably flawed through and through.

In short sooner or later, we have no choice now, both America and Europe will go bankrupt.

Which just perhaps is the best thing for us all, all things taken into consideration.