by Michael Schuman
After Greece, will concerns about nations’ debt loads derail the global economic recovery?
As Thailand financial crisis spread to even a distant country like Korea in 1997, Greek financial breakdown will spread not only to the euro zone but beyond that unless efficient measures are taken. The European Union seems to have saved Greece economy by $145 billion bailout, but in reality the way EU has dealt with Greek’s tragedy lacks understanding of the global contagion of the financial black plague. Germany put domestic policies ahead of the stability of the euro zone and entire global economy. The EU needs to do more, otherwise the Greek flue might spread all over the world. (100)
