How did we get here, and why is it lasting so long? Here is how the drama has being playing out between Athens and BrusselsWhy is the Greek debt crisis lasting so long? Six years and no foreseeable end in sight.Different cycles influence a country’s economy: the business cycle, the credit cycle, the regulatory cycle, the moral cycle. One that is seldom talked about is the debtor-creditor cycle. George Soros deftly describes the relationship between creditors and debtors as “the collective system of lending” in Alchemy of Finance.Hopes have risen of a debt haircut for the official sector, as creditors are now discussing it Continue reading...
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