Weekly Wrap: Greek debt crisis

Kai Ryssdal talks with Cardiff Garcia from the Financial Times’ Alphaville blog and Marketplace New York bureau chief Heidi Moore.

On whether Greece will default:

Cardiff Garcia: I don’t know, but I would lean towards yes. If by default you mean a sort of basic restructuring. Look, right now politicians in Europe are either in denial, or more likely, they just haven’t figured out how to agree on who’s going to share the pain.

And how it might affect the Eurozone and the U.S.:

Heidi Moore: None of these problems are very easy to solve. They are systemic. They are about the way that we do business in Europe and in America, and we keep digging and digging and digging. And we can only hope that the digging actually gets us to the source. If not, we’re just creating a bigger hole. But we’ll see.

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