Commentary
Uri Dadush
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Source: Getty
In The Media
Greece's Worsening Debt Crisis
The recent spike in Greek bond yields indicates that markets have not been reassured by European leaders' pledges to support Greece. Unless more decisive, detailed plans are announced, the Greek crisis will continue to get worse.
By Uri Dadush
Published on Apr 8, 2010
Source: Bloomberg News
Uri Dadush explains that unless Greece receives the aid that it needs from other European countries and the IMF, a Greek default is unavoidable. The support package announced recently has done little to reassure markets because it lacks specific details and many questions remain. Dadush lists some of the pressing questions: “What is the size of the package? What are the conditions associated with the package? What is the specific role of the IMF? What kind of monetary and fiscal policies will other parts of Europe have to follow?” In order to prevent Greek default and the crisis from spreading to other vulnerable European countries, Dadush concludes, more decisive action is needed.
About the Author
Uri Dadush
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 Tsipras
- 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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