The Greek sovereign debt crisis

A little white lie has led to a Greek meltdown that threatens to tip the world into another period of severe recession – but there may be a better way to go.

In Economy

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23rd June, 2012

Mag Features

Whatever form Greece’s new government takes after the June 17 election, it has to deal immediately with the biggest crisis in the country’s modern history. Time, like money, is critically limited in Greece. The Greek Government is operating with money lent to it in its first bailout and the second tranche, due in August, is in jeopardy. Without it, Greece will default on its next bond payments. The inconclusive outcome of its first round of elections on May 6 increased concern over the financial stability of Greece and the euro, and stock markets shuddered around the world. Many major stock ...

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