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University of Chicago Professor Charles Lipson on the potential political consequences of the Greek debt crisis.
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So I'm here and -- economic crisis you've got care about this because it could have a major impact here in our markets increase in Spain distract.
Now the Greek Prime Minister is warning the nation's financial situation is so severe that the government will fall if they don't get aid by November.
And to make matters worse Antonio some -- is predicting.
This -- and waited while the Ryan is -- right wing extremist one might say fascist neo Nazi party.
This is even possible busy crying wolf let's ask my favorite professor Charles what's that.
At the University of Chicago thank you so much for joining us tonight.
Always a pleasure to see you regardless what I think about it and listen if he is he crying wolf.
I think he's pointing to a real problem but I think he's exaggerating yet.
Let me just say it's the one thing you said a little -- earlier in the show you're the only.
-- the focus on the economic problems in he ran.
I think you've been the only showed a focus on the political dimension of the eurozone crisis we've really talked about -- lot I think that what you're seeing.
Though the risk that some Morris was calling attention to in Greece or one example of it but there was an example of it hit it as well in foray yet just today.
I mean the problem is is that these governments topple as a result of what's going on financially.
And what replaces them -- be a real problem for the US right I -- where do you see -- it's it's going on in Greece.
And -- -- -- It's not just that they will topple its that Smart.
Political leaders in power don't want to take actions that they think will lead to their own defeat.
So well -- -- remember.
In in the aftermath of the stock market crashes 1929.
In those sinking of the world economy into depression.
After that there with a rise of both left wing and right wing parties and settlement tried to kind of combined.
Those elements remember the Nazis call themselves the national socialist.
And they were not getting a large amount of votes until the German Economy crashed so this Specter.
Of nationalist parties is something that's part of European history that's something it's ironic to have the Greeks talking about not neo Nazis rising and threatening the Germans would.
But remember what's happening -- -- that Merkel is going to be.
Visiting Greece and why is she doing that I think what she's doing -- a message.
To all of Europe and especially to the Greeks that Germany does not want to see.
The Greek economy crumble or to exit the Euro -- -- release of four the next six months or so.
Before you run out of time -- on the view.
When Mitt Romney mentioned Spain during the debate let me play that -- -- your reaction on the other side.
Spain Spain -- spends 42% of their total economy.
And government but we -- now spending 42% of our economy and government.
I don't want to put on the path to Spain.
What do you think are we going down a path to Spain.
I think that this is one of the great political debates of our time and I think that Mitt Romney was right to join it with President Obama.
I think president Obama's policies and his political vision are fundamentally that.
-- love the fridge.
Social Democrats rather like France was a line.
Our and I think that Mitt Romney's are a traditional.
All conservative Republican I thought it you know during the debate he sounded actually.
He echoed themes that you would associate with Dwight Eisenhower so I think that this is a great debate to be joined politically I think that -- is raising.
Real risks.
But I think that there are people on the left.
Who would like to see a stronger centralized government not just to safety net but all of these are elements and you can see what the problems are.
As Margaret Thatcher once said -- the problem with socialism is it sooner or later you run out of other people's money.
Rate absolutely.
Progress -- -- -- thank you so much for coming on have a great weekend.
