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    Posted May 21, 2012 by
    garygrgator
    Location
    athens, greece
    Assignment
    Assignment
    This iReport is part of an assignment:
    What does it mean to be Greek?

    Oil Crisis More Dangerous than Greece

     
    Once the EU follows through on it's promise of sanctions of Iranian Oil in June, the entire world could face oil prices as high as $160 a barrel. This will have devastating consequences, and will delay or completely destroy any further support of Greece and it's financial needs. Germany, France and the UK will become more focused on their own economies rather than those of the now problematic southern European countries. Bearing this in mind, it might be best if Greece goes ahead and returns to the Drachma.
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