The Greek Crisis: Tragedy or Opportunity?
Posted: 13 Mar 2012
Date Written: September 16, 2011
After its 2009-2010 fiscal crisis shook the euro, could the Greek government stabilize debt, avoid default, and stay on the euro? This case looks at the Greek social and political road to fiscal crisis; the economics of that crisis and efforts to recover from it; the danger the crisis posed to the euro; cooperation and conflict among European states, the European Central Bank, and the International Monetary Fund to try to help Greece emerge from crisis; and the role financial markets played in these events.
Learning Objective: To teach about political and economic sources of fiscal crisis; currency union efforts to manage fiscal policy; International Monetary Fund strategies to handle crisis in developed nations; interactions between fiscal crisis and financial markets.
Suggested Citation: Suggested Citation