Cold War II: The Greek crisis is about more than money

Russia may be helping to inflame Syriza’s internal divisions in the hope that Greece’s ruling party cannot make the difficult concessions necessary to stay in the eurozone. If Greece does leave the eurozone, the economic aftershocks to the domestic economy could reduce it to a semi-failed state that, along with the dismemberment and weakening of Ukraine, will seriously weaken Europe’s geopolitical position vis-à-vis Russia.

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If this happens not only will the Iberian states of Spain and Portugal be more susceptible to euro-debt contagion, but Balkan states with weak institutions and fragile economies like Albania, Bulgaria and Romania will be in a more exposed position. While those states were never part of the eurozone, the spectacle of a major Balkan country pivotally loosening its ties with the West, even as Russia appears momentarily ascendant in the region, will be sobering in the extreme.

Then there is the larger picture. The first post-Cold War decades featured a secure Eurasian maritime sphere from the Mediterranean across the Indian Ocean to the Western Pacific. Thus, the weakening of Greece’s ties with the West in the eastern Mediterranean has to be seen alongside the ascendancy of Iran in the Persian Gulf and the rise of China in the South and East China seas as a singular process in the chipping away at American power.

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