August 13, 2015 – SEP Director Marcello Messori was interviewed by Radio 24 about the Greek crisis. Below is a rough translation.
[03:15] Radio 24: How did Greece arrive at a default last Spring?
In 2010, Greece was no longer able to finance their public debts on the financial markets, and therefore, with great reluctance, the European Union and the European Monetary Union organized an intervention to help Greece access funds and finance its public debt without issuing bonds and selling them on the market.
The bilateral agreement between member states of the EMU and Greece, with the involvement of the IMF, started this long process of restructuring the public debt in Greece
- The full interview (in Italian) is available from Radio 24.