Tag: Grexit

Contributor Post Created with Sketch. Greece Gets the Worst of Both Worlds

 

greek facepalm-225x300It appears Greece has ended up paying two costs. It chose first to spurn the EU through a referendum and has suffered a banking system shuttered and a major contraction in its economy. It then spins around and takes a deal that is to most observers worse than the one it turned down the previous week. So it pays for a financial crisis and for more austerity.

Heckuva job, Alexis.

Member Post

 

There’s an excellent piece in Forbes that explains why Grexit is already well underway. Today’s no vote will only accelerate the process. As the author notes, Grexit is a process, not an event. And it is a process that has already begun. Greece’s membership of the Eurozone was partially suspended when the ECB capped ELA. […]

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Contributor Post Created with Sketch. Athens on the Potomac

 

U.S. Debt ChartFinancial experts in New York, London, and Brussels have tut-tutted Greece’s economic travails as Athens considers its future with the European Union. Why did they borrow so much money? How can they ever pay it back? Do they think that much debt is sustainable?

Instead of pointing fingers at the innumerates running Athens, they should consider our own situation. Jason Russell of the Washington Examiner shows how America’s debt projections look suspiciously like Greece’s recent history.