Greece’s debt crisis grows

Dick Taffe — Wed, 05 May 2010 20:20:33 +0000

As nationwide workers’ strikes continued and deadly riots erupted in Athens over austerity measures invoked to deal with Greece’s ongoing debt crisis, fears grew that the situation may adversely impact the global banking system. Mark Williams, author of “Uncontrolled Risk” about the fall of Lehman Brothers who teaches finance in the School of Management, says the risk will remain high until meaningful financial reform is enacted globally.

“If the stunning collapse of world markets after the Lehman Brothers bankruptcy in September 2008 was the wakeup call [about uncontrolled risk in the banking system], the unraveling of Greece and potentially other sovereigns (Spain, Portugal, Italy) is the latest alarm bell.”

Contact Mark Williams, 617-358-2789, williams@bu.edu

Greeks deal with debt

Dick Taffe — Fri, 05 Mar 2010 21:04:23 +0000

Greece has announced austerity measures to rein in the country’s debt that threatens the European Union’s euro currency — and in the process triggered public outrage and demonstrations. International Relations Professor William Keylor, an authority on U.S.-European relations, says the Greek government seems to playing a game of chicken with the EU.

“By hinting that it might approach the International Monetary Fund for an emergency loan, it is threatening the eurozone with a huge embarrassment if it does not come to Greece’s aid. No developed country has gone hat in hand to the IMF since Britain had to do so thirty four years ago.”

Contact William Keylor, 617-358-0197, wrkeylor@bu.edu

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Greece’s debt crisis grows

Greeks deal with debt