Uri Dadush
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Europe's Growing Crisis
Recent cuts to the credit ratings of Spain and Portugal indicate that the crisis in Greece is spreading across Europe. Given the financial market pressure on Greece, debt restructuring appears inevitable, but it remains to be seen when it will occur.
Source: The Diane Rehm Show

Given the financial market pressure on Greece, “inevitably, some kind of restructuring of the debt has to happen” but it remains to be seen when this occurs. It can happen now, under tremendous market pressure and when banks will be extremely fragile, or, if the EU and IMF provide sufficient support, it can happen in the coming years once the world economy has recovered.
About the Author
Former Senior Associate, International Economics Program
Dadush was a senior associate at the Carnegie Endowment for International Peace. He focuses on trends in the global economy and is currently tracking developments in the eurozone crisis.
- The Labors of TsiprasCommentary
- Greece, Complacency, and the EuroIn The Media
Uri Dadush
Recent Work
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
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