Who's Afraid of Grexit?

June 27, 2015

The NYT finished a piece on the status of negotiations on Greece’s debt with the comment:

“The bigger fear is that a Greek default could force the country eventually to be the first to leave the 19-nation euro currency union and threaten the regional integrity of the broader European Union.”

It would have been helpful to tell readers who has these fears. After all, the current policies being imposed by the European Central Bank and the EU have cost the region millions of jobs and trillions of euros in lost output and threaten a whole generation’s economic future. It is hard to see why anyone would fear the possibility that these policies may be reversed.


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