Greeks in crisis

In Greek negotiations, solvency may not be the goal

David Brancaccio Jun 25, 2015
HTML EMBED:
COPY
Greeks in crisis

In Greek negotiations, solvency may not be the goal

David Brancaccio Jun 25, 2015
HTML EMBED:
COPY

With time running out to keep Greece solvent, deadlines have come and gone with no resolution yet.

Now, the EU is talking of handing Greece a kind of take-it-or-leave-it last proposal. But Nicholas Spiro, managing director of Spiro Sovereign Risk, a consultancy that focuses on the risks countries face based on whether or not they can pay their debt, says resolution may not be the point.

“There is an inescapable feeling right now that is what is being demanded of Greece is not only politically and economically undoable, but that the creditors know this,” says Spiro. “One has to really wonder if the deal that is being put to Greece is, in fact, an attempt to undermine the government.”

Click the media player above to hear more.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.