A Pain in the Athens Why Greece Isn't to Blame for the Crisis By Mark Blyth
We’ve
never understood Greece because we have refused to see the crisis for
what it was—a continuation of a series of bailouts for the financial
sector that started in 2008 and that rumbles on today. It’s so much
easier to blame the Greeks and then be surprised when they refuse to
play along with the script.https://www.foreignaffairs.com/articles/greece/2015-07-07/pain-athens?cid=nlc-twofa-20150709&sp_mid=49066558&sp_rid=bWljaGVsZXRrZWFybmV5QGdtYWlsLmNvbQS2
The
European Union provided emergency bailouts for Greece, writing down a
substantial proportion of the debt in return for commitments to reform
state and economy. To be on the safe side, though, European officials
and banks have spent the last five years conducting the financial
equivalent of what the Y2K teams did, quarantining Greece so that any
fallout could be safely contained and a G2K avoided. Recently, German
Chancellor Angela Merkel claimed that this had been achieved and that
Europe was now “much stronger” than when the Greek crisis had first
exploded in 2010.https://www.foreignaffairs.com/articles/greece/2015-07-06/greece2k?cid=nlc-twofa-20150709&sp_mid=49066558&sp_rid=bWljaGVsZXRrZWFybmV5QGdtYWlsLmNvbQS2
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Friday, July 10, 2015
A Pain in the Athens
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