Mohamed A. El-Erian, Bloomberg: Greece Comes to a Sudden Stop. Now What?
Sadly, the “Graccident” has happened.
The Greek economy is now in intensive care, as its parts -- and notably its banking system -- grind to a halt. The economy that eventually comes out of intensive care will be smaller and uncomfortably different in form, but it will also have the potential to prosper over the longer term if some important decisions are made rapidly and consistently.
The dramatic breakdown in bitterness and acrimony of negotiations this weekend between Greece and its creditors understandably panicked Greeks, who are justifiably worried about their financial well-being. Lines started forming at automatic tellers, as depositors rushed to pull out whatever cash they could. Several machines ran out of money, and it became clear that a full run on the banking system would occur when banks opened on Monday.
Commentaries, Analysis, And Editorials On The Greek Debt Crisis
Why Aren’t the Markets Freaking Out More About the Greek Crisis? -- Neil Irwin, NYT
This Is How Grexit Happens -- Robert Kahn, Real Clear World
The next act: what happens now in Greece's drama -- AP
Humiliating Greece -- Telegraph editorial
No Money Left in Greece -- Guardian editorial
Greek Suicide Watch -- Wall Street Journal editorial
The very big risks of the Greek debt crisis -- Mark Thompson, CNN
Greek debt crisis: Why a bailout referendum? -- Laurence Peter BBC
Greece could be biggest national default in history -- Patrick Gillespie, CNN
How much Greece owes to international creditors -- Reuters
'Like a bad dream' – Greeks awake to no money and no certainty -- Jon Henley, The Guardian
Greece's Bizarre Referendum -- Tristram Sainsbury, Lowy Institute
Grexit signs: Drachma, how we’ve missed you! -- John Lloyd, Reuters
Greece stumbling toward default: A game of chicken gone wrong -- Archim Hurrelmann, The Globe and Mail
Greek debt crisis: Is Grexit inevitable? -- Paul Kirby, BBC
What a Grexit means for you: What's happening in Greece - and how does it affect Britons as debt default looms? -- Daily Mail
