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Past Mistakes and Current Joint Responsibilities: the Greek debt crisis
2015-07-18 14:20:00

China External Environment Monitor

财经评论15016
2015
7 15

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Past Mistakes and Current Joint Responsibilities:
the Greek debt crisis

Li Yuefen

With the Greek debt crisis raging on, another round of blame exercise has started. It is not really unhealthy to do so, as with it comes the responsibilities for fixing the crisis. Looking back over the years since Greece joined the euro zone in 2001, it would be correct to say that the Troika -the European Central Bank (ECB), the International Monetary Fund (IMF), the European Commission (EC) – as well as the Greek government all have had their share of misjudgments, illusions, technical errors and political prejudices, though some parties more than the others.
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1.Reckless Lending by Eurozone Countries and Reckless Borrowing by Greece after Greece Joined the Euro
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2.IMF and ECB Circumventing Rules to Put Off Greece Debt Restructuring
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3.Socializing Greek Debt to Save Financial Institutions of Core Eurozone Countries
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4.IMF’s Technical Error and Resultant Excessive Austerity for Greece
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5.Sharing Responsibilities and Giving Greece a Fresh Start
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