Portugal’s return to growth has many calling it the star pupil of the eurozone crisis. A look beyond the headline figures puts this into question, however.
It’s groundhog day for Greece as the third bailout package is negotiated. And there’s no reason to think this one will be any more successful than the last two.
How to explain Greece’s bailout puzzle?
Greece puzzle via www.shutterstock.com
No one seems to really believe the latest bailout plan will work without debt relief. But the only way to get Greece to adopt essential reforms is to pretend it isn’t in the cards.
Cash: not to be taken for granted.
EPA/Orestis Panagiotou
A famed game theory parable involving mutually assured destruction explains the Greek debt crisis and could explain the outcome of the Greek referendum this Sunday.
With the ECB freezing the level of emergency liquidity assistance it is providing to Greek banks, the nightmare scenario for Greece is already beginning to unfold.
Alexis Tsipras has called a referendum of Greece’s bailout offer.
EPA/Simela Pantzartzi