An historical perspective and a look at what is owed, to whom and when provides insight about the culture and complexities of Greek sovereign debt.
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.
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.
With more austerity resistance to government spending cutbacks, Greece could again be heading for a sovereign debt default and a bailout.
Will international creditors say yes again to Greece after today’s meeting in Brussels? Part of the deal involves selling or leasing whatever the Greek government owns. The proceeds reduce the debt and meanwhile, by building roads and business parks, resuscitating ports and…
Like New York’s Knickerbocker Bank in 1907 or Jimmy Stewart’s 1930s bank in It’s a Wonderful Life, the ingredients of a classic run include distraught depositors and rumors of a bank’s imminent demise. Lines are long, emotions are volatile and,…