Jason Manolopoulos lends a unique perspective, based on experience of the global financial system, emerging markets and crises, European politics and Greek society, to demonstrate how one of the EU’s smaller countries played a catalytic role in a crisis that threatens the future of the euro, and possibly even of the European Union itself. He digs beneath the headline economic data to explore the historical legacy and psychological biases that have shaped an ongoing political drama, in a book that has profound implications for our understanding of economics, as well as the policy choices for Europe’s elite.
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Read before you blame the Greeks How Greece came to this point, what are the likely outcomes and what ought really to be done is all in this book, a must-read for various groups for different reasons.Starting with the parallel story of Argentina, which sadly taught world financial leaders nothing “in hindsight”, and proceeding with the fallacies governing Europe’s premature and frivolous monetary union, it is excellent read for any European citizen, not just Greeks. Historical analysis puts current ailments in…
Greece’s Odious Debt Economics is tricky. When it comes to buying sovereign debt, people everywhere seek to make informed investment decisions on the basis of “good” economic data but few seem to understand what that means. Contrary to popular economic theory, people are not rational decision-makers, rendering the predictive power of “efficient market” models weak. There also seems to be an overeliance on a suite of rather shallow metrics to judge the health of an economy, namely: GDP growth, credit expansion,…