Greece Debt

Getty Images

The Economics of Europe's Lost Generation

At the IMF and World Bank Group annual meetings in Tokyo, the European economic crisis was never off the agenda and often took centre stage in panel discussions. In the streets of Athens, Madrid, and in cities of other fiscal adjusting European states, there is a real belief that this new economic reality will result in a lost generation.

Greece 2011: Argentina 2002 Redux?

This comparison should give the Greeks some hope -- after all, Argentine 10-year government bonds today are comparable to other emerging market economies and investors flocked back to Argentina. What did Argentina do and what can Greece learn from its experience?
AP

Greece Is Just the First to Fall

Let 'em go. Let 'em make their own way until they change their minds and rejoin the club and adhere to existing rules. If that means another recession, or even a depression, better now than at some time in the future when damage will be even greater.
AP

Let Greece Default

There is no rescuing Greece. If the country will not submit to regulations that people like Mark Carney would probably endorse, better that it not be propped up. Let it abandon the euro and revert to the drachma, until it comes to terms with itself.
Getty

Lessons From Greece's Bankrupt Society

It wasn't just a domestic credit crisis that brought that country to its knees -- it was a much more serious case of social corruption and mistrust, an ailment so deeply entrenched in their national psyche that it could only be wiped out with the help of a deep and painful crisis.
AP File

A (Friendly) Memo to a Greek Protester

The popular discontent of the last few months is certainly understandable. What is less understandable is what seems to be a widespread belief among Greeks that the citizens are neither responsible nor have any obligation to bear the consequences for their government's overspending.
AP

Moody's Slashes Greek Debt Rating, Warns Default All But Certain

ATHENS, Greece - Moody's downgraded Greece's bond ratings by a further three notches Monday and warned that it is almost inevitable the country will be considered to be in default following last week's new bailout package.The agency said the new EU package of measures implies "substantial" losses for private creditors. As a result, it cut its rating on Greece by three notches to Ca -- one above what it considers a default rating.