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Greece--read today's WSJ for a better understanding

Posted by (TN, USA) on

There have been several posts re: getting cash in Greece. One of the responders to a previous post mentioned reading The Wall Street Journal, which has had some really good coverage on this topic over the last few months.

But, today's has some really good articles, that will help you not only know what was going on there this a.m., but also will give you a feel for what the country could face if the proposed referendum determines to not accept the demands of staying in the Eurozone. Hint: It might not be pretty.

If you have travels planned to Greece, you owe it to yourself to purchase a copy of today's Wall Street Journal and read all the articles related to Greece. Alternatively, pop by your local library, if they have today's paper available.

Posted by
7054 posts

NY Times as well has excellent coverage, especially the digital/online version, with live updates of new developments. Both WSJ and NYT have excellent resources for learning about the crisis (although I'm not sure if both offer free limited articles to non-subscribers online). Also, it's worth checking out PBS and BBC for free content. I try to tease out the biases in the articles and focus only on the facts.

Posted by
5837 posts

Interesting insight into Greek sovereign debt defaults:
http://thereformedbroker.com/2015/06/28/some-stuff-you-should-know-about-greece-before-you-lose-your-s/

Some excerpts:
1. Greece invented finance. It was the starting point of currency and “movable” wealth. It was the birthplace of banking, personal loans, securitized lending, real estate loans, credit-based trade, endowment investing, capital levies, interest rate laws, foreign exchange, annuities and many other related innovations that helped to give birth to the modern world.
2. If Ancient Greece invented finance, it also was the inventor of the financial crisis.....

To a person with any historical awareness, being told that Greece is on the verge of a default is like hearing Dean Martin is on the verge of a martini.
9. There are no countries in the modern world that have defaulted on their loans more often than Greece, save for Honduras and Ecuador.

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