Greece's End Game
2:44 PM, Jun 22, 2011 • By DALIBOR ROHAC
European leaders might choose – as they have done in the past – to ignore these basic economic lessons and continue trying to keep an insolvent Greece afloat. Yet to really help this maritime nation, a structured default is necessary. Indeed, an orderly default is possible and such an end game need not be the metaphorical capsize envisaged by many. Only then can the bigger game – making Greece competitive again – really begin.
Dalibor Rohac is a research fellow at the Legatum Institute in London.