Greece’s Choice — and Ours: Democracy or Finance?

greek economy

Robert Reich: Greek Prime Minister George Papandreou decided in favor of democracy yesterday when he announced a national referendum on the draconian budget cuts Europe and the IMF are demanding from Greece in return for bailing it out.

Greece: Epicenter of the Debt Earthquake?

Papandreou and Obama

Steven Hill: One of the qualities holding Greece back from enjoying the benefits of a more modern economy is its reliance on an informal economy of family and social networks which too often translates into nepotism, back room deals and tax dodging. But during an economic crisis like this, those networks become valuable

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