The number of issues raised by Greek economic turmoil is virtually impossible to tally. Insurance companies have now refused to insure Greek contracts to exporters, so Greece, heavily dependent on imports, is running out of a number of important items. These shortages make it impossible for the Greek economy to function, and thus the debt situation simply deepens. We are witnessing a vicious spiral downward from which there seems to be no escape other than for Greece to leave the euro.
According to the German journal, Der Spiegel, Israel is fitting nuclear warheads on missiles carried by submarines built by Germany to Israeli specifications. The revelation is extraordinary, since Israel will neither confirm or deny that it possesses nuclear weapons. The news has yet to be carried by any American media source, and it certainly complicates the strong non-proliferation stand the US has taken with Iran.
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