There are two clear actions countries such as Cyprus, Greece, Spain, Japan, Egypt and the rest need to do - first, effect civil policy measures to reduce populations levels in the years ahead, as they can no longer draw blood from a stone. It is time to face the reality that certain geographies will only be able to sustain their population levels for so many years, before completely collapsing. And certainly, infinite sustainability is absurd. Secondly, develop and implement a "National Business Strategy" - that may also mean opting-out of global or regional institutions (EU, IMF,WTO, etc.) that largely restrict emerging foreign competition through trade agreements providing short-term benefits, but working to the long-term and over-weighted benefits of bigger players. In other words, denying or retracting their ability to develop sustainable "comparative advantages" through protective measures that allow industries to develop and grow over time.
Some tough medicine here, in very general terms, however if measures are not soon taken to re-balance a nation's physical economy's limits with the number of people it can optimally and sustainably serve; then the political situations in many nations will simply spin out of control. Not good for oil! markets! consumers!- and just about anything you can think of.
Dr Peter G Kinesa
July 9 2013