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Who is Responsible for the Greek Tragedy?

El-Erian, Mohamed, (2012), ‘Who is Responsible for the Greek Tragedy?’,, 19 Μαίου.

Greece is following the road taken by several other crisis-ridden emerging economies over the past 30 years. Indeed, as I argued earlier this year, there are stunning similarities between this once-proud eurozone member and Argentina prior to its default in 2001. With an equally traumatic implosion – economic, financial, political, and social – now taking place, we should expect heated debate about who is to blame for the deepening misery that millions of Greeks now face.