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1 | page back in the 1980s, there was a famous credit market ...

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Eleven million people, of whom only about one-third have jobs. the entire greek economy is almost exactly the size of that of dallas,. texas or düsseldorf,.
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1 | P a g eBack in the 1980s, there was a famous credit market analyst named Ed Hart who used tospeak of times and circumstances when “the demand for certainty far exceeded the availablesupply”. That description applies perfectly to the current crisis in Greece due to its manymoving parts, its potential for catalyzing unforeseen consequences, and its potentially vastand far-reaching aftershocks.What we do know is that, atleast on the surface, Greeceis economically insignificant.It has a population of onlyeleven million people, ofwhom only about one-thirdhave jobs. The entire Greekeconomy is almost exactlythe size of that of Dallas,Texas or Düsseldorf,Germany.What Greece has been is a“problem child” that wildlymisrepresented informationabout its economy in order to gain entrance into the Eurozone, and has basically “gamed’the European system ever since they joined. The country has consistently spent much morethan it takes in as taxes. (Indeed, a previous Greek Finance Minister resigned ...