Greece is a small enough economy that it can be propped up - makes it look like a country falling off a cliff in slow motion. When Spain or Italy falls, it’ll be fast - maybe not one hour - or one day - but close.
—Greece is a small enough economy that it can be propped up - makes it look like a country falling off a cliff in slow motion. When Spain or Italy falls, it’ll be fast - maybe not one hour - or one day - but close.—
I heard it said this way: The problem with Spain and Italy is that they are not too big to fail. Rather, they’re too big to do anything about if they do a Greece.