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FAQ: 7 Questions and Answers about Greece, the Referendum and Euro
Wilson Mizner is credited with the advice to be nice to people on your way up because you will meet them on the way down. This may apply to us as individuals, but not to countries. We are struck by the fact that creditor nations are acting like creditors and debtor nations are acting like debtors, no matter their history. The picture to the right is from the 1950s. The Greek finance minister is signing off an a 50% reduction of German debt. 1. Why is Greece, whose economy less than 2% of Europe is dominating the headlines and investors' attention? The end of the global credit cycle in 2008 first hit Greece in 2010. ... (full story)