As Greek bailout talks continue, European monetary officials are also concerned that a Greek statistician could receive a life sentence for reporting accurate macroeconomic statistics.
Although people in the eurozone want a single currency and their leaders want unity, monetary union problems create political distrust and disunity.
Our Posts Roundup Sunday 3.01.15 Handy notes from Warren Buffett…more Monday 3.02.15 The basics of Greek tax evasion…more Tuesday 3.03.15 Insight about airline queues…more Wednesday 3.04.15 Why we subsidize Brazilian farmers…more Thursday 3.05.15 What an ATM can teach us…more …
Our everyday economics includes foreign exchange, human capital, economic growth, GDP, inflation, unemployment, monetary policy, tradeoffs and deleveraging.
With excessive sovereign debt and bailout problems, Greece may have to switch to a new drachma and endure financial turmoil at home and in the eurozone.
Reflecting collective intelligence, markets in Greek CDSs and Greek bonds, and the dwindling deposits of Greek banks show if we’ll have a Greek default.
People and nations might perpetuate a bad investment because they look back at their past sunk costs. Instead they should compare future cost and benefit.
Like a dysfunctional family with members who dislike each other, the EU stays together because of the benefits of David Ricardo’s comparative advantage.