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Former U.S. Ambassador to the U.N., John Bolton, on the Greek elections, the euro and Germany.
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I get back to the G-20 summit.
Because it's really all about Europe and the crisis that and whether or not there's going to be concerted bail out of Europe -- will that Germans pay for the rest of Europe which is going on the up.
Joining us now is John Bolton he's the former US ambassador to the United Nations in DC.
Ambassador welcome back -- I'm.
How view is have a real sense of frustration.
Because this just goes on and on that and bond it's never -- costs I put it to you.
All we about to hit the absolute crunch whether Germans -- column looks get lost will not pay all with yet.
Well -- I think we're getting very close to it you know the result and -- collection last night was not that much the big deal one way the other I think Greek.
New Democracy Party and its leader and Thomas -- -- are most likely able to try and get the Greek economy.
Moving again but but that's far from certain they're gonna have to be in a coalition with the socialist who got them into this mess to begin with.
And the alternative.
Of this series of party would have had to have been a coalition with the socialist still.
So I don't think this election was ever the key decision point that people thought.
But I do think that what's happening in Spain and Italy and other European countries continues to push the Euro closer to crisis now.
President Obama does not want a crash in Europe he wants he basically he wants a huge bailout to just keep it to get -- through this coming election.
Do you think that the crunch will come do you think that Euro will fall -- do you think they'll be up trash before November what's your judgment on this.
I don't think anybody knows but I tell you were referring earlier to the meeting that the president will have with chancellor Merkel of Germany today well he -- urge.
Germany two to open its checkbook to the peripheral countries.
I'm sure she able listen to doing very carefully and politely and she will ignore everything that he says because her political constraints at home.
-- -- -- even even tighter than the president's concerns about his future in November she has opened the German checkbook repeatedly.
Over the last two years or did she has suffered for it in German elections I don't think she's gonna do it again so you think mr.
-- at the Jones will not open the checkbook again and throw good money after -- they're not gonna do exist on.
It exactly I think there may be some modest.
Changes in the Greek bailout package because that because they want to show something to the new Democracy Party.
The look markets are pushing Spanish and Italian debt and let's not forget the French elections.
President -- long Socialist Party won what seems to be an absolute majority god knows what that means for French economic policy.
Why should the Germans who retire at 65.
Pay for the French -- retire in future at sixty.
All the Greeks to retire at 55 hold Greek head dresses to retire at fifty with a full pension on the grounds that they be -- -- -- dangerous that chemicals.
A wall grounds to the hard.
Looking jobless pay for everybody forever I can't see.
That that is exactly I think the mood of the overwhelming majority of the of the German.
People now it's true they have benefited from the Euro because they've been able to export.
In the southern York.
But I don't think that's gonna be persuasive to him I think mayfield they've they've tighten their belt labor costs have gone down in the past ten years.
And it's now time for the rest of Europe to get -- look that the Euro is a fundamental contradiction in terms it's a currency without a government.
Chancellor Merkel think she has the answer much greater centralization of power in Brussels.
I think that will be resisted and in any event isn't gonna happen soon enough.
I regret to say somebody got -- seconds left but can you answer this question.
Should we keep -- -- spending money in Egypt.
Now that Egypt's army has literally taken Obama and push the Muslim Brotherhood into -- subservient role.
Well I don't think anybody should be surprised that this outcome if you go back a year ago I would have gotten rid of move America and I think at this point I'd still support the military so you -- him we pay without dollars.
I would continue to provide them military assistance at least until we see more -- what's the alternative complete collapse of the government and radicals even more radical than the Muslim Brotherhood taking over I don't think that's a good idea either time thank you very much indeed ambassador John Bolton thank you so.
I wanna go back to Nicole because I've got -- Sola stalk.
