Gilbert, Mark, (2015), “One Thing Europe Got Right in Greece’s Crisis”, Bloomberg View, 16 July
Greece’s slow-motion economic car crash is an ongoing debacle, but Europe’s success at ring-fencing the disaster has been remarkable. Judging from the currency market, the threat of contagion in Europe has steadily diminished month by month since March.Here’s a chart showing the monthly swings in the euro’s value against the dollar this year. Those trading ranges have become narrower and narrower, suggesting euro traders have decided they couldn’t care less whether Greece exits the common currency project or not:
Relevant Posts
- Beck, Thorsten, (2015), “Greece: And the can keeps on rolling…”, Voxeu, 15 July
- Ruparel, Raoul, (2015), “Bridge financing for Greece – what are the options and should the UK be involved?”, Open Europe blog, 14 July