I feel rules will be rewritten if Greece says "no". A big change will sweep thru
the whole global economic system.
Greece is heading toward a major vote Sunday that will both shape the future of its economy and Europe's monetary union. It is a complicated story, and here at Wonkblog, we've tried to give you a clear sense of what's going on and what's next.
But Anil Kashyap of the University of Chicago Booth School of Business has released an excellent primer of his own that's worth a read. Kashyap wrote the piece last weekend, before Greece officially defaulted June 29 on a key payment to the International Monetary Fund, and the situation continues to evolve into the weekend. In an e-mail, Kashyap notes a few other important developments since his primer came out, including that some Greek officials have pledged to resign if Greeks vote Yes on the referendum; that creditors won't negotiate anymore until after the vote; and that a new IMF debt analysis sheds additional light on the grave situation facing Greece.
Read over the primer's 18 questions and answers--reprinted here--and come away far more knowledgeable about Greece's crisis. (We have lightly edited a few points, marked with *, to reflect updates since the original version was published.
#GreekDebt #GreekCrisis #IMF #EU #ECB #Troika
http://www.washingtonpost.com/blogs/wonkblog/wp/2015/07/03/18-key-facts-about-greece-that-will-leave-you-totally-up-to-date-about-a-huge-crisis/
the whole global economic system.
Greece is heading toward a major vote Sunday that will both shape the future of its economy and Europe's monetary union. It is a complicated story, and here at Wonkblog, we've tried to give you a clear sense of what's going on and what's next.
But Anil Kashyap of the University of Chicago Booth School of Business has released an excellent primer of his own that's worth a read. Kashyap wrote the piece last weekend, before Greece officially defaulted June 29 on a key payment to the International Monetary Fund, and the situation continues to evolve into the weekend. In an e-mail, Kashyap notes a few other important developments since his primer came out, including that some Greek officials have pledged to resign if Greeks vote Yes on the referendum; that creditors won't negotiate anymore until after the vote; and that a new IMF debt analysis sheds additional light on the grave situation facing Greece.
Read over the primer's 18 questions and answers--reprinted here--and come away far more knowledgeable about Greece's crisis. (We have lightly edited a few points, marked with *, to reflect updates since the original version was published.
#GreekDebt #GreekCrisis #IMF #EU #ECB #Troika
http://www.washingtonpost.com/blogs/wonkblog/wp/2015/07/03/18-key-facts-about-greece-that-will-leave-you-totally-up-to-date-about-a-huge-crisis/
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