Why Greece Matters
Greece's economy, which has a total annual GDP of around $330 billion, is the 30th largest economy in the world and in some senses its relatively small size would seem to suggest that financial markets' recent preoccupation with the country's travails is somewhat overdone.
However, the Greek crisis has revealed three things, namely the glaring fault lines and structural shortcomings that lie at the heart of the Euro project; the fact that many OECD governments simply cannot afford the 'medical bills' associated with keeping their economies in fiscal policyinduced intensive care; and the fragility that continues to lie at the heart of the global financial system.
Read the full Tyndall Comment.
Tyndall
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