Amid expectations that Greek Prime Minister George Papandreou will resign soon, Greek politicians today worked to negotiate a power-sharing deal between rival parties that would secure a $179 billion (130 billion euros) rescue package for the country's economy - and the promise of a savage new round of austerity.
Greece is following the road taken by several other crisis-ridden emerging economies over the past 30 years. Indeed, as I argued earlier this year, there are stunning similarities between this once-proud eurozone member and Argentina prior to its default in 2001.
Greece is following the road taken by several other crisis-ridden emerging economies over the past 30 years. Indeed, as I argued earlier this year, there are stunning similarities between this once-proud eurozone member and Argentina prior to its default in 2001.
