The Euro Crisis is back in the headlines with a new word, “Grexit,” meaning the possibility of Greece leaving the Eurozone.
So what is the Eurozone and what’s been happening there the last three years? Can a crisis really be that urgent after 3 years? What about this austerity debate? — voters in France and Greece just elected governments which reject austerity, so what does austerity look like in Europe and what are the arguments for and against it?
Why has Greece been at the center of the crisis and what would happen if it left the Eurozone? And finally, we know this is about money, so how much, for what, who is paying, and why should they?
- Richard Parker, economist and professor of public policy at Harvard’s Kennedy school who also served as adviser to the former Greek government