Could the Greek Economic Crisis Affect the US Economy?

Could the Greek Economic Crisis Affect the US Economy?

Could the Greek Economic Crisis Affect the US Economy?

Economic unrest in Greece has the potential to quickly spread through the entire European Union—and back to the US where the crisis originated on Wall Street. 

Facebook
Twitter
Email
Flipboard
Pocket

Economic unrest in Greece has the potential to quickly spread like a cancer through the entire European Union —and back to the US where the crisis originated on Wall Street.

Greece is $400 billion in debt; more than the country’s entire economic output. Though the violent riots against austerity measures and political unrest are currently mostly contained in Athens, the economic problems are not unique to Greece. They have the potential to quickly spread through the entire European Union—and back to the US where the crisis originated on Wall Street. 

Harvard economist, author and Nation editorial board member Richard Parker joined The Emily Rooney Show to explain the economic conditions in Greece, the upcoming "vote of confidence" and why the crisis has global implications.

Anna Lekas Miller

We cannot back down

We now confront a second Trump presidency.

There’s not a moment to lose. We must harness our fears, our grief, and yes, our anger, to resist the dangerous policies Donald Trump will unleash on our country. We rededicate ourselves to our role as journalists and writers of principle and conscience.

Today, we also steel ourselves for the fight ahead. It will demand a fearless spirit, an informed mind, wise analysis, and humane resistance. We face the enactment of Project 2025, a far-right supreme court, political authoritarianism, increasing inequality and record homelessness, a looming climate crisis, and conflicts abroad. The Nation will expose and propose, nurture investigative reporting, and stand together as a community to keep hope and possibility alive. The Nation’s work will continue—as it has in good and not-so-good times—to develop alternative ideas and visions, to deepen our mission of truth-telling and deep reporting, and to further solidarity in a nation divided.

Armed with a remarkable 160 years of bold, independent journalism, our mandate today remains the same as when abolitionists first founded The Nation—to uphold the principles of democracy and freedom, serve as a beacon through the darkest days of resistance, and to envision and struggle for a brighter future.

The day is dark, the forces arrayed are tenacious, but as the late Nation editorial board member Toni Morrison wrote “No! This is precisely the time when artists go to work. There is no time for despair, no place for self-pity, no need for silence, no room for fear. We speak, we write, we do language. That is how civilizations heal.”

I urge you to stand with The Nation and donate today.

Onwards,

Katrina vanden Heuvel
Editorial Director and Publisher, The Nation

Ad Policy
x