Preventing the Spread of Greece’s Crisis

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.”