Tesco
Bust
Book

Bust

Greece, the Euro and the Sovereign Debt Crisis

Matthew Lynn
Bloomberg Press, 2011

Read or listen offline

auto-generated audio
  • 0.5×
  • 0.75×
  • 1×
  • 1.25×
  • 1.5×
  • 1.75×
1×
auto-generated audio

Editorial Rating

9

Qualities

  • Analytical
  • Scientific
  • Overview

Recommendation

For a relatively small country, Greece has made outsized contributions to the world: mythic legends and heroes, great art and architecture, illuminating philosophers and thinkers, and the very word “democracy.” Yet the nation that invented the Greek tragedy is living its own version of one today, dealing with fatal flaws that threaten to spread its suffering to the rest of Europe and beyond. Journalist Matthew Lynn dissects the origins of Greece’s debt crisis and relates how the dream of a united Europe has led to what he predicts is the euro’s imminent downfall. His dry, witty, clever writing style provides some relief around the all-too-real events he recounts and the dramatic prospects he predicts. getAbstract recommends this modern-day tale of unfolding human tragedy that’s going to need a deus ex machina to bring catharsis and resolution.

Take-Aways

  • Greece’s 2010 economic collapse has its roots in the country’s membership in the European Monetary Union (EMU) and the European Union (EU).
  • Economic and political considerations drove the EU to create the euro in 1999.
  • In its first decade, the euro seemed to integrate the EU’s 329-million-person economy.

About the Author

Matthew Lynn is a financial journalist and columnist for Bloomberg TV and Bloomberg News. He wrote the Death Force military thriller series.

Comment on this summary or Start Discussion

  • Avatar
    Sign in to share your opinion
  • Avatar
    D. B. 1 decade ago
    I found this summary a good read to educate me on the history of the Euro and the problems embedded in Greece. Since Greece and now Italy are making headlines almost every day, I would recommend this abstract.