Two centuries of Greek debt crises highlight the pitfalls of relying on external financing. Since its independence in 1829, the Greek government has defaulted four times on its external creditors – with striking historical parallels. Each crisis is preceded by a period of heavy borrowing from foreign private creditors. As repayment difficulties arise, foreign governments step in, help to repay the private creditors, and demand budget cuts and adjustment programs as a condition for the official bailout loans. Political interference from abroad mounts and a prolonged episode of debt overhang and financial autarky follows. We conclude that these cycles of external debt and dependence are a perennial theme of Greek history, as well as in other countries that have been “addicted” to foreign savings.
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«Ο ΦΡΑΓΚΙΑΔΑΚΗΣ ΘΑ ΚΑΝΕΙ ΠΙΣΩ, ΜΟΝΟ ΟΤΑΝ ΒΓΟΥΜΕ ΟΛΟΙ ΕΞΩ ΕΝΩΜΕΝΟΙ ΚΑΙ ΚΑΤΑΛΑΒΟΥΜΕ ΤΑ ΚΕΝΤΡΙΚΑ ΚΑΤΑΣΤΗΜΑΤΑ ΟΛΗΣ ΤΗΣ ΧΩΡΑΣ»
ΚΥΡΙΕ ΝΙΚΟ, ΜΕ ΤΗΝ ΔΙΚΗ ΣΟΥ ΥΠΟΓΡΑΦΗ ΔΙΕΓΡΑΨΕΣ €26.000.000 ΚΕΦΑΛΑΙΟ & ΤΟΚΟΥΣ ΣΤΗ DIONIC ή ΤΟ ΕΚΑΝΕ Ο ΠΙΠΗΣ ΑΠΟ ΤΗΝ EFG ΣΤΗΝ ΕΛΒΕΤΙΑ ???