Illustrating The Greek Debt Tragedy

As the Greek debt crisis flares up once again, and the idea of debt relief for the struggling European nation is tabled by the powers that control the next round of bailout cash, it's worth taking a look at an old research report from Astellon Capital Partners, which was published during the third quarter of last year but is still highly relevant today.

Illustrating The Greek Debt Tragedy

Following Greece's ascension to the euro, the country enjoyed a period of economic prosperity. We now know that this prosperity turned out to be an illusion, sponsored by debt and funded by the country's lenders. What was an output surplus of €103 billion at its peak had become an output gap of €87 billion...