Posted by Matt Purdue
What a difference six years makes. In the summer of 2004, Greece was preparing to host the Olympic Games. By many accounts, the games were a great success. But now, less than a decade later, Greece stands on the brink of economic collapse. I wonder if the Greeks would like to have back the 7 billion Euros they spent to stage the games.
Alex Monro at Risk.net writes the best analysis I’ve seen yet of the Greek crisis, and what it could mean for the world economy.
As Jerry Seinfeld might opine, “So, what’s with Greece?” Essentially, most of Europe owes money to itself. Many countries are indebted to each other. Greece has taken on more debt than most, and can’t keep up its debt payments. The NY Times has an excellent graphic illustrating this tragic co-dependency.
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