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Friday, July 3, 2015

Greek debt crisis—by the numbers – 7 charts ***** | Real-World Economics Review Blog

Greek debt crisis—by the numbers – 7 charts ***** | Real-World Economics Review Blog



Hm!..."Greek Debt Crisis". Very concise definition, but wrong. It doesn't describe the problem. Wrong frame (Kahneman) , useless conclusions. The Greek crisis as it appeared in 2009/10 was one of Fiscal Sustainability coupled with an unsustainable Current Account Deficit. 

There was no way the Greek government could maintain their spending even if the total debt was wiped out.

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