Political turmoil continues in Greece as the country’s parties remain unable to form a government. If another election has to be held, the socialists are expected to do even better this time. This would give a new socialist government a mandate to resist the EU-imposed austerity program, which would drive Greece even closer to bankruptcy, an exit from the Eurozone, and a return to the drachma. The state electricity utility nearly had to impose a blackout last weekend when it came close to running out of cash, and the Greek tourism industry is in freefall as the prime vacation season gets underway.
In other news, a conference of the Food and Agriculture Organization in Rome highlighted the fact that the countries of North Africa and the Middle East remain unable to feed themselves, due to political turmoil, bad agricultural practices, and a dysfunctional distribution system.
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