Opinion (Alexei Kudrin, Russia’s former finance minister): “A full-blown economic and financial crisis in the euro zone is inevitable and will develop within a year, Alexei Kudrin, Russia’s former finance minister, said Thursday, adding that a possible way out may be a partial write-off of Spain’s and Italy’s debt, but the political will for that is lacking.

“‘Greece will not be able to fulfill its obligations (towards lenders),’ Mr. Kudrin, who described himself as a pessimist, said at a conference.

“‘A serious financial and economic crisis will hit Europe within a year … with Spain being its next victim, and then possibly Italy,’ he added. ‘The time (for avoiding it) has already past.’”

My Comment: A wise man sees the problems in advance; ordinary people don’t hear that problems are approaching before they are affected physically. In this, they, like children or animals, are underdeveloped.

But the wise ones, even if they see a problem, don’t see its true cause because it is happening in a sublayer, and they see only the external symptoms, like a narrow-minded doctor who diagnoses only by them, and although they constantly make mistakes and blame some special reasons, changing circumstances, etc., it is still at the level of their understanding of the world; there are no other solutions. So, we are drowning.
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