Don't underestimate the damage of a 'small' failure like Greece
Published 01/07/2015 | 02:30
Havana is a strange place from which to write about Greece. Cuba has been cut off for years, access to information is limited, people can't travel and the Party is so paranoid that the Internet is barely available. However, what happens next in Greece and in Europe is less a matter of news and more a matter of analysis about what happens when people feel the world and their assumptions have changed forever.
Perhaps the fact of being in Cuba, so far away from everything, offers a degree of clarity. (Interestingly, today Greece is about to join Cuba as one of only four countries to have defaulted on the IMF.)
One relevant way to look at what is happening in Greece is through the kaleidoscope of symbolism. Symbols are important. Many commentators and politicians are discounting the Greek crisis as being specific to Greece. They argue that Greece is only 2pc of European GDP, but the plug is also only 2pc of the bath and we know what happens when you pull the plug.