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Monday, June 8, 2015

Mohamed El-Erian : "Subplots Cloud Greek Drama"

Subplots Cloud Greek Drama - Bloomberg View

Facing an intensifying trust deficit and worsening coordination failures, the leading actors -- the region's political leaders -- increasingly risk being relegated to secondary roles. Meanwhile, the ensemble in this drama -- citizens subjected to a protracted and suffocating economic and financial crisis -- is increasingly taking on more of the decision-making role on the ground. The more this occurs, the greater the probability that a new and very different storyline will impose itself -- one that focuses on the uncoordinated, disorderly and uncontrolled exit of Greece from the euro zone.

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