The Greek Debt Crisis: Rhyming History

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The Greek Debt Crisis: Rhyming History

Basil Zafiriou

The financial crisis that shook the global economy to its foundations began on Wall Street, then spread across the ocean to Europe and the rest of the developed world. Greece, being on the periphery of the advanced economies, was not immediately affected, and the government prided itself on the solid economic management that kept the country firmly

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May 03, 2012

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1 reader comment


1. Philip Vorgias wrote on May 05, 2012 8:49 AM	It is interesting to contrast Greece with Switzerland, both nations approximately the same size. While Greek governments have historically borrowed and spent, trying to live like their 'models' in western europe, the Swiss have been far more conservative. You can see the result in the two nations economic performance to date. This is not to say that Switzerland has faced all the challenges that Greece has in the last century-they haven't. But there is some credibility to the allegation that the wreckless character and spending attendent to Greek governments has been a major factor in impoverishing the nation. Greece needs a paradigm shift in what the nation should aspire to-and it needs far more visionary and less self-serving leadership.
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