Iran–EU Debt Crisis Update

By Greg Hunter’s USAWatchdog.com

The meeting, last week, in Iraq to negotiate a resolution to Iran’s nuclear program ended with zero concessions on either side.  The only thing positive was an agreement for another meeting, next month, in Russia.  This meeting is more than a discussion over Iran’s nuclear ambitions but more about the world powers trying to avoid all out global war.  Now, there is a new wrinkle.  The Israelis are putting the military option back on the table after secretly making an agreement with the Obama Administration to hold off until after the November elections.  The Israelis are distraught that the Iranians continue to manufacture highly enriched uranium that is near weapons grade.  It was, also, reported late Friday night that the Iranians have doubled their stock pile of enriched uranium in the last few months.  As far as the EU debt crisis is concerned, things are getting worse.  It was reported over the weekend, Greece is on the verge of collapse.  People like Nigel Farage (Member of the European Parliament) say Greece should be able to leave the Euro and go back to using their old currency (Drachma).  Farage says the Euro should be broken up to restore hope and democracy.  (Click here to hear Farage at the EU Parliament last week.  It’s great!)  Many in the EU want to keep Greece in the union at all costs because they fear other nations will follow suit.  The biggest are Spain and Italy who have been rocked with dozens of bank downgrades because of sour sovereign debt.  All this should be watched by Americans because big banks on this side of the pond have enormous derivative exposure to EU debt.  Is Greece the first domino that could ultimately sink the U.S. and Western economies?  It appears we shall soon find out.  Greg Hunter gives his analysis on these stories and more on this long Memorial Day weekend.

Comments
  1. freedom

    Great update Greg.
    I feel like Ron Paul by saying (what if)?
    What if isreal strikes at the same time the euro fails ?
    What if Irans allies back them, and the USA is forced to fight a major war with the last two copper pennies we have left.
    This is (in my opinion) the most under reported news at the moment.
    Thanks for all your work.

    • Greg

      Thank you Freedom. We live in “interesting times.”
      Greg

    • Capiche

      If Israel attacks Iran, it will cease to exist. But aeveryone knows Israel does not have the COURAGE OR POWER to attack Iran.

      • Greg

        Capiche,
        Time will tell if you are correct. I think history will prove you wrong on all points. I hope I am wrong.
        Greg

  2. Cathy

    Thank you very much for your heartfelt, sincere and very informative web site!

    • Greg

      Thank you Cathy for being part of it.
      Greg

  3. average joe

    Thanks for these summaries Greg.

    Depressing yes, but informative, especially since the media no longer covers anything of substance. Not sure if you have kids, but for the first time now, I guess I am one of those voters who does believe the next generation will have a lower standard of living than the current generation. I didn’t want to believe it, but I don’t see anyway around it. Approaching 20 trillion in debt, how will be possibliy be paid off? and the govt keeps crushing business expansion with crap like ObamaCare, etc, etc.. and those that do suceed, they are villified, while those like crony capitalist Warren Buffet that thrive on govt bailouts, etc are looked upon as saviors.

    Anyway, keep up the great work, appreciate these summaries.

    • Greg

      Thank you Average Joe–you are anything but.
      Greg

  4. George Too

    Great Analysis GREG!
    How long can the world economies dance on a razor without losing its footing?? ;-)

    • Greg

      Yes George, or cutting the femoral artery. Thanks man!
      Greg

  5. James

    The Israelis are distraught that the Iranians continue to manufacture highly enriched uranium that is near weapons grade.
    Of course this is not anywhere near the truth (excpt misinformation spread by warmongers) as it has to be enriched to at least 90. It is nowhere near that level.

    • Greg

      James,
      It is the truth and it is reportedly relatively quick and easy to enrich to weapons grade (90%) from this point (20%). Don’t come on this site and say I am wrong unless you can back it up and you cannot!
      Greg

      • M SMITH

        Hell is coming to the USA from Japan, by sea & by air & it’s only getting worse!

      • Frank Brady

        With respect, it simply is not “quick and easy to enrich to weapons grade (90%) from this point (20%)–despite the usual propaganda emanating from the neo-con war machine’s usual suspects (which, by the way, do NOT include you). See http://www.globalresearch.ca/index.php?context=va&aid=31068 for more on this, including what the Iranian’s could produce in the way of weapons in the worst case scenario assuming they want to do so–and there is NO evidence that weaponization is their intent.

        • Greg

          Frank,
          You left out a very important word from my quote and that is “relatively.” It is a mischaracterization to quote me by simply saying “quick and easy” It is relatively quick and easy to enrich uranium from 20% to 90% as opposed to 0% to 20%. This is my source:http://www.ft.com/intl/cms/s/0/4375cd06-a68a-11e1-aef2-00144feabdc0.html#axzz1wJjgqomc I am not endorsing or cheer-leading a war, any war. I’m just warning one is coming, like it or not. Thank you for your comment.
          Greg

          • Frank Brady

            I agree that war is coming. In fact, it has already begun.

            Best wishes as always.

            • Greg

              Frank,
              Thank you for your comments and for participating in this site.
              Greg

  6. James B - Montreal

    Do you believe that Iran can match wits with the Israelis even though Iran outnumbers Israel 10x to 1? This fact is never discussed as if it were two sides with equal number of people.

    The ‘Flame’ Computer Virus Strikes Iran, ‘Worse Than Stuxnet’
    Iranian security experts report a virus far more dangerous than the Stuxnet worm has struck the country’s computer systems.

    http://www.israelnationalnews.com/News/News.aspx/156275#.T8Pkb7BfEgp

  7. robert

    Thank you for thoughts. Keep up the good work.

  8. Marcel

    …and then we have the Syria domino ready to collapse all the other ones like a house of flammable cards.
    All Assad has to do to set off WW III is murder another 100 Syrian Children or fire off a few chemical weapon towards Israeli cities.
    We are living in extremely perilous times and most people will only figure that out when the domino’s have fallen.

    Today’s headlines you won’t find in the worthless U.S. media

    Russian and North Korean ships rearming Syria as war games continue in Jordan and the Syrian rebels are armed with more advanced weapons by Saudi, Qatar and Western nation’s.
    Iran admits they have troops in Syria.

    • Greg

      Marcel
      Thank you for the comment and info.
      Greg

  9. Nathan Hale

    Thanks for your work Greg. You are doing a great service.

    • Greg

      Thank you Nathan,
      Greg

  10. ONTIME

    Unbelieveable, the way this world is behaving, it’s as though chaos and mayhem are in preference to mutual treaties and free trade…

  11. Howard

    Great website. I visit regularly.I wanted to mention that we have some other developments as well.
    1. Muslim Brotherhood in Egypt – basically a neo-nazi organisation with a religious fascist veneer. If they win in Egypt then that’s a whole new ball game in the Middle East.
    2. The Putin doctrine – in which Russia is saying no humanitarian grounds override the nation-state civil war. So hands of Syria whilst they establish a Russian client state with Iranian assistance.

    All together we have the making of a serious ME war with the Russians/Iran/Syria against who??? that could well draw in many other states. When the Euro disintegrates both sides may think it would be the best time to attack. fFter all in today’s PC world nations cannot go to war before the UN will immediately step in and smother the event and simply suppress a war that is likely to simply kick of again later. ie Israel Hezbollah in Lebanon.
    Regards

    • Greg

      Thank you Howard for the comment and analysis.
      Greg

  12. pieter

    hi Greg,

    What a shame that most ppl still watching the msm media which is clearly not reporting all the facts. The hypocrytical west regarding
    Syria. Do you know how many civilians have died and still dying in Iraq and Afghanistan for example. Never mind that msm report this no they like to focus to Syria. Not that that regime is very good but is our western regime so good? I suppose when you living in middle east the anger must be already beyond boiling point.

    Now we talk about Israel did we forget Israel slaugtered few years few hundreds children with fosfor bombs and normal bombs, I never heard any western country that they kicked the israeli ambassador out their countries and there was all reason too. Now our corporate media is not reporting any relevant news anymore it is all directed by the corporate intrests to distract the masses.

    As I reported today the argument against Iran is not even there, the Israeli,s and their sponsored media can repeat there lies what they want a lie stays a lie and not becomes a fact.
    Look at the link and see what a wonderfull peacefull israeli leaders the western banksters are protecting with the blood of average Joe.

    Of course this you will never see on the msm news.

    Better get the facts before starting another crazy war in the name of damned lies.

    flying dutchman

    • Greg

      Pieter,
      I am quite sure I can get a page of quotes from Palestinian leaders that will put them in a bad light as well. I am not allowing the quotes because I am do not have the time to independently verify them. I also do not want this to become an anti-Israel site. That does not mean you cannot criticise their policies. I try to report the news and give analysis of what I think may be coming. That said, I think an attack by Israel on Iran will be an unmitigated disaster but sooner or later I think one is coming.
      Greg

  13. Jim H

    Great update Greg.

    My greatest question has for some time been, is all that is happening around our planet the result of accidental outcomes from non intended actions or is there something more corrupt at work (man behind the curtain in Wizard of Oz). Seems behind all that I see is a desire by someones to more easily control the masses, resources and technology. The main problem for me is the seeming insistance that the higher standard of living must come down rather than attempting to bring the lower standard up.

  14. pieter

    Hi Greg,

    You are absolutely correct that Palestinians have as well done many negative quotes about Israeli,s. But this is just the point I want to make that Israel builds whole her argument on going to war with Iran is build on one speech of an iranian president which was by the way was wrong translated.

    There we go again the msm and our politicians just don,t want to hear the facts.

    regards,

    Pieter

    • Greg

      Fair point Pieter. That quote was not translated correctly and one of my good Iranian friends backs that up. That said, you cannot ignore the Iranian proxies in the North of Israel (Hezbollah) and in the South (Hamas) who routinely fire missiles into Israel. The situation has years of bad blood on both sides and nobody will win in the next ME war.
      Greg

  15. pieter

    Hi Greg,

    But let us not forget that Israel is a proxi of the usa. And then the fact is that the usa is making the biggest mess off all in middle east with their unprovoked and choosen war. The war in Iraq was based in lies, only nobody in the US wants to take responsibilty for their crimes and killing of million or more iraqi civilians. I like to see
    how the us reacts when another country invades them. Then we have the issue with the drones clearly an act of war en terror originated from the us. Last but not least I am sure you are aware of the recent history of the usa, it is a chain of war en conquest, that should something to reflect and why that is happening all the history of the US.

    keep up good work,

    Pieter

    • Greg

      Pieter,
      I’d like to say you are wrong but I cannot. Thank you for your participation in this site.
      Greg

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