Those events led to a domino effect that has yet to end.

The existing power relations in the Middle East have indeed been permanently shaken and, indeed, revolutionized. The effect however, has not been a domino like democratization instead we are threatened with a domino effect of descent into chaos.

Elsewhere in the region capitalism, promoted by the opening of markets, triggered growth and promoted stability. Globalisation produced its own domino effect. The dominoes toppled

Many see Greece as the potential first domino to fall in a scenario that runs as follows the Greek austerity measures do not suffice, the debt crisis deepens, and the risk of a sovereign default spreads to other European economies. As the Greek domino falls, countries like Portugal, Spain, or Italy start tumbling, and a small economy s crisis turns into a major European calamity.

The next day the next day, not even 24 hours had passed in Peru, the president of Peru said, We'll do 250. And boom, a little domino effect.

Fourth, although innovations are limited governance interventions or microlevel initiatives, they can produce a domino effect in that a successful innovation in one sector can open the door to innovations in other areas.

This might trigger a positive domino effect as well, as other states on grounds of international financial integration adopt similar procedures for controlled liquidation of their own insolvent banks. Zombie assets would be destroyed.

The domino effect of rushing through late submissions is also responsible for most of the cases where documents take more than four weeks for processing or are issued less than six weeks before consideration.

After all, private creditors hold only a minimal share of Greek debt nowadays. In 2010 2012, by contrast, systemically important European banks were exposed, raising the risk of a domino effect that threatened the entire eurozone.

Obviously, the domino effect need not stop there the insolvency of banks A and B could get a bank C and additional banks into trouble. Indeed, the entire over indebted fractional reserve banking subsystem might have to be liquidated.

Back in 2012, the domino theory looked realistic enough that the creditor countries ditched the Grexit option. Having reflected and pondered over the summer, German Chancellor Angela Merkel went to Athens and expressed her hopes and wishes that Greece remains in.

Some will hold the EU and the measures imposed by Brussels responsible for the outbreaks of social unrest. In such a situation, the crisis will have triggered a social rather than an economic domino effect, which is no less worrisome.

Elsewhere in the region capitalism, promoted by the opening of markets, triggered growth and promoted stability. Globalisation produced its own domino effect. The dominoes toppled GDP rose millions were lifted out of poverty literacy rates soared child mortality figures fell.

The coming years or even months are likely to see new forms of these domino effects. As in 1848, the struggle for affordable food is producing discontent that transcends national frontiers, threatens established regimes, and fuels popular demand for a more just political order.

But the consequences are so unpredictable, and the costs of any domino effect potentially so large, that Germany and other creditors have no interest in precipitating a Grexit scenario. On the contrary, presiding over the eurozone's breakup must be one of German Chancellor Angela Merkel's worst nightmares.

One view dubbed the domino theory claims that if Greece exited, markets would immediately start wondering who is next. Other countries' fate would be called into question, as occurred during the Asian currency crises of 1997 98 or the European sovereign debt crisis of 2010 2012.

Mistaken beliefs, on the other hand, are reflected in metaphors like contagion and domino effect, which imply that financial markets become blind, virulent, and indiscriminate when they are disturbed. Such terms provoke fear that, once confidence in any one country is lost, all others are in danger.

But analogies are not always wrong, and those that were wrong in the past could prove correct today. One of the arguments for the Vietnam War was the so called domino theory.  If South Vietnam was to fall to the Communists, other countries in South East Asia would tumble before Communist insurgency.

Moreover, viewed from a wider perspective, economic and social turbulence on Europe s southern periphery will constitute a geopolitical risk. That risk would be exacerbated by the eruption of a major default related crisis within the eurozone, which might not be contained and, through a Lehman like domino sequence, could jeopardize the entire edifice.

But analogies are not always wrong, and those that were wrong in the past could prove correct today. One of the arguments for the Vietnam War was the so called domino theory. If South Vietnam was to fall to the Communists, other countries in South East Asia would tumble before Communist insurgency.

Worse, the eurozone may again be at risk, with a Greek exit eventually causing a domino effect that eventually leads to the eurozone s breakup. Or a British exit from the EU may trigger European dis integration, with the additional risks posed by the fact that some countries (the UK, Spain, and Belgium) are at risk of breaking up themselves.

As I write these lines, the Greek government is presenting the European Union with a set of proposals for deep reforms, debt management, and an investment plan to kick start the economy. Greece is indeed ready and willing to enter into a compact with Europe that will eliminate the deformities that caused it to be the first domino to fall in 2010.

The question of Puerto Rico was of key importance to the implementation of the Plan of Action for the Second International Decade for the Eradication of Colonialism, since the termination of the colonial domination of Puerto Rico by the United States could have a domino effect by compelling other administering Powers, such as France and the United Kingdom, to re examine the colonial status of the remaining Non Self Governing territories.