The Greek financial crisis

Pavlos’s Thoughts – Episode 2 – The Greek financial crisis

Talking post (podcast). Click to open as MP3.

Key points:

  • The core problem is that the Greek economy is unproductive in structure and ethos.
  • Greece will probably have to default against the debt market, if not now then later.
  • It would be better if the EU dealt with the issue instead, by taking over and restructuring some debt.
  • The EU should probably create a framework to deal with national solvency in a consolidated way.
  • Fortunately the Greek economy has poor coupling, and could be protected temporarily by price controls.
  • In the long run the solution is to make Greece more productive by fixing exactly that – creating high coupling of innovative firms with the international economy. The best way to do that is probably to create international economic zones, which work in English by Western rules.

Feedback:

3 thoughts on “The Greek financial crisis

  1. Γεια σου! Just wanted to say I really liked how you explained the crisis in a factual yet simple way. I study Greek culture at Sydney university and this will definitely help with my uni work.

    Reply

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