Greece’s
gross debts add up to around $320 billion in nominal value, according
to the International Monetary Fund. That’s big compared to the
Greek economy, but tiny compared to the world outside. It’s less
than 3% of the entire eurozone economy, which is about $13.5
trillion. So even if Greece refused to pay one more nickel of its
debts — an outcome no one is suggesting — the eurozone could make
up the difference with about eight days’ output ... or an
hour’s money-printing by the ECB.
BreakThrough News Saudi Arabia has $142 billion in American weapons. Yemen is the poorest country in the Arab world. So why can't Riyadh win? Last month, Ansar Allah seized Mokha and Perim Island, and with them the Bab el-Mandeb Strait, cutting off Saudi Arabia's alternative oil route around the closed Strait of Hormuz. Mohammed bin Salman begged Trump for US airstrikes, then backed "Dawn of Yemen," a 100-warplane offensive aimed at Sanaa, as crude oil again tops $100 a barrel. Veteran war correspondent and analyst Elijah Magnier joins Rania Khalek and Zoe Alexandra on the Red Sea front, as nearly 1,000 Yemenis have been killed and 184,000 displaced since fighting resumed. But Magnier argues Ansar Allah – often referred to in US media as the Houthis – hasn't lost much ground. He explains why Saudi warplanes are largely powerless in Yemen's mountainous terrain, and why he sees the movement advancing on Taiz and Marib. And Magnier breaks down how Hormuz and Bab ...
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