Greece

Video

Preventing the Spread of Greece's Crisis

Speaker: Sebastian Mallaby

Sebastian Mallaby, Director of the Maurice R. Greenberg Center for Geoeconomic Studies and Paul A. Volcker Senior Fellow for International Economics, says Greece is nearing a turning point in its debt crisis. Mallaby predicts that "Greece is going to have to default, it's going to have to be restructured in its debt," and argues that policy-makers need to "prevent the fire from spreading out of Greece and causing trouble all across the eurozone."

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Analysis Brief

Managing a Greek Default

Author: Christopher Alessi

Despite a German parliamentary vote to boost the eurozone's bailout mechanism, Greek sovereign debt levels appear unsustainable and a default may be inevitable. Most economists think the question now is how to make the process orderly.

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Interview

A 'Deepening' European Union

Iain Begg interviewed by Christopher Alessi

Though Standard and Poor's ranks Greece as the world's lowest-rated economy, calling into question the eurozone's future, economist Iain Begg says the debt crisis will paradoxically have the effect of deepening EU integration.

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Interview

Weighing a Second Greek Bailout

Daniel Gros interviewed by Christopher Alessi

Greece will undoubtedly receive a second bailout from the EU and IMF. But expert Daniel Gros says it remains to be seen whether default is inevitable and if banks and other private bondholders will also take a hit.

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Must Read

Vanity Fair: Beware of Greeks Bearing Bonds

Author: Michael Lewis

As Wall Street hangs on the question "Will Greece default?," Vanity Fair's Michael Lewis heads for riot-stricken Athens, and for the mysterious Vatopaidi monastery, which brought down the last government, laying bare the country's economic insanity.

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Must Read

CRS: Greece's Debt Crisis: Overview, Policy Responses, and Implications

Authors: Rebecca M. Nelson, Paul Belkin, and Derek E. Mix

Over the past decade, Greece borrowed heavily in international capital markets to fund government budget and current account deficits. The profligacy of the government, weak revenue collection, and structural rigidities in Greece's economy are typically cited as major factors behind Greece's accumulation of debt.

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Video

Buiter: Sovereign Debt Problems to Continue

Speaker: Willem Buiter
Presider: Michael J. Elliott

Citigroup's Chief Economist Willem Buiter discusses the future of sovereign debt in the wake of the crisis in Greece.

This meeting was part of the C. Peter McColough Series on International Economics.

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First Take

Muddling through Greece's Tremors

Author: Marc Levinson

At the center of market upheaval over Europe's debt crisis is Greece, which faces daunting challenges despite a pending bailout. But it should be counted on to muddle through with reforms, writes CFR's Marc Levinson.

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