Thread: Greek debt crisis: How much is it fear driven?

Greek debt crisis begets euro crisis. How much is it fear driven?

By the Monitor's Editorial Board The Monitor's Editorial Board –
May 7, 4:00 pm ET

Here’s a question that economic historians will ponder soon enough: Which came first during the Greek debt crisis of 2010 – the fear of contagion in global markets or the contagion itself?

The answer could help prevent the domino effects of another financial knockdown in the future. As it is, leaders in European Union (EU) are still trying to figure out how to slow the tsunami-style damage to stock markets from Greece having come close to not paying its debts because of overspending.

“It’s absolutely essential to contain the bush fire in Greece so that it will not become a forest fire,â€

For many years now it has been difficult for Greeks in the American retail food business to come over and work in their stores. I would not be surprised if the number of Greek immigrants goes up now.