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I'm going to be discussing the Greek debt crisis tomorrow with my group for an Int'l Business MBA class. If you're familiar with the history of the crisis, then I'm hoping you can help. I'm faced with these questions, what do you think?:
>Could Greece stabilize its debt-to-GDP ratio? Attaining the necessary primary budget would mean raising taxes on the rich. Increasing trade competitiveness would require deflation to push down export costs. But fiscal stringency and deflation could themselves undermine growth. Would a protracted recession itself worsen deficits and debt as a percent of GDP? In the IMF's base case estimate, debt would peak at 160% of GDP in 2013 before declining.
>Moreover, even if fiscal austerity and structural reform were socially and politically supportable in 20120, could that support be sustained for several years? An could the structural reforms strengthen Greek industry enough to promote healthy growth over the medium term? Might financial markets be spooked again, driving up interest rates and ultimately forcing Greece to default or restructure debt? If restructuring was inevitable, why not do it immediately, rather than drag the painful process out?
So that's it? After all the "Jews did it", you assholes have nothing of value to add to real subjects. Debate, pls.