Ad Hoc Commentary – Greece falls to Russia?

Last year we asked:

“Is history repeating itself again now with the Greeks giving France and Germany the Trojan horse of sovereign debt crisis?”


It seems that Greece surpassed expectations. What is looking ever more certain is that it is giving Europe a real Trojan horse of war by essentially rejecting Soros’ warning:

“…Europe is facing a challenge from Russia to its very existence. Neither the European leaders nor their citizens are fully aware of this challenge or know how best to deal with it…”

“…assisting Ukraine in defending itself against Russian aggression would have a stimulative effect not only on Ukraine but also on Europe…”


As the Financial Times reports:

“…Soon after Syriza, the Greek radical leftwing party swept to power this week, alarm bells began ringing in the capitals of Europe. But it was not finance officials who were rattled but Europe’s defence and security chiefs. The day after his election as Greece’s new prime minister, Alexis Tsipras threw a grenade in the direction of Brussels: he objected to calls for fresh sanctions against Russia as a result of rising violence in Ukraine…”

“…The new defence minister, Panos Kammenos has also been a frequent visitor to Moscow. A picture shows him in the Russian capital two weeks ago, meeting the chairman of the Russian Duma’s foreign affairs committee and the deputy chairman of its defence committee…”


We know that the far-left Syriza won the Greek elections, and they forged a coalition with the far-right Independent Greeks (ANEL) to rule Greece. What is most important is that the ANEL leader, Panos Kammenos, was made defence minister. We look at China for insights:

“…Usually the office of Chairman of the Central Military Commission is the last office handed over by the previous leader….”

“…the appointment of Xi Jinping as the vice chairman of the Central Military Commission of the Communist Party of China signposted with a reasonable amount of confidence that he would be the next leader of the People’s Republic of China…”’s_Republic_of_China

The Chinese, like their late leader knows that: “Political power grows out of the barrel of a gun.” – Mao Zedong.


In yours truly humble opinion, even though Syriza won the elections, it is probable that the real power lies with ANEL’s Kammenos who controls the Ministry of Defence. To be sure, ANEL’s Kammenos is no stranger to the Greek armed forces. In fact, he was the first to be mentioned during a 2014 commemoration event of a national hero:

“…The commemoration was also attended by the Leader of the Independent Greeks party Panos Kammenos, the Chairman of the Standing Committee on National Defense and Foreign Affairs of the Hellenic Parliament…”


To understand Kammenos, you probably would want to read the English translation of his Oct 2014 speech:

“…The future of Greece would be better if a strategic orientation were taken to establish links with some of the most dynamic economies of the world, and to find thereby new sources of economic support. One of these countries, besides Russia, is China…”

“…Our membership in NATO and the EU does not prevent us from maintaining close political, economic and cultural relations with other countries, especially those with which we have historical ties such as Russia and China. We should develop those relations in the overall strategic interests of West and East…”


In yours truly 2015 outlook, we mentioned:
“…2.Europe meltdown as capital runs out of Europe for safety from war and austerity…”

It is only January and it looks like Europe is trying to fulfill our outlook. To avoid catastrophic meltdown, Europe needs good jobs. Good jobs are the antidote to deflation, war, and austerity. Does anyone in Europe even read the World Bank’s 2013 World Development Report: Jobs? If they don’t, they should at least remember that Jobs are transformational:


Good luck in the markets.