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Austerity, Germany, and the economic crisis in Greece in 2015- the role of extreme levels of borrowing in the crisis
02/27/2015
Prof. Rogoff at Harvard and Prof. Bulow at Stanford point to the role of extreme levels of borrowing as the root cause of Greece's economic crisis. Greece would have suffered more if the EU and ECB had forgiven the debt but refused to lend since 2010, say Bulow and Rogoff. The popular rhetoric puts the blame on Germany for the austerity programs, yet this does not tell the entire story of profligate borrowing and spending till 2009, and the efforts of the EU and the ECB to find a way out of the crisis with conditional financing of the government and banks.
Grouped Articles
Don’t Blame Germany for Greece’s Profligacy
Wall Street Journal 04.17.2015
New York Times 02.27.2015
New York Times 04.20.2015
Greece Flashes Warning Signals About Its Debt
New York Times 04.19.2015
Greece’s Long and Painful Odyssey
Wall Street Journal 04.22.2015
Greek Deal or No Deal: Investors Question Which Is Worse for Euro
Wall Street Journal 06.28.2015
Greece and the Flight From Reality
Wall Street Journal 07.06.2015
A Grecian Formula for Courting Disaster
Wall Street Journal 07.07.2015
Economist 07.19.2015
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